Early today, #shibainu was the top Twitter trend in India, the world’s second-most populous country. A spokesperson from Mumbai-based WazirX, one of the largest crypto exchanges in India, said SHIB has overtaken bitcoin’s position as the top traded token in the Indian rupee market, generating a volume of $489 million. Source link … [Read more...] about Bitcoin Dips Below $59K as Leverage Ratio, SHIB Rally Signal Excess Speculation
Leverage
5 things to watch in Bitcoin this week as greed and leverage get ‘flushed out’
Bitcoin (BTC) is keeping bulls and bears guessing as it opens a new weekly candle in the green, heading away from $50,000.After an uneventful but uninspiring weekend, BTC/USD has begun Monday by reclaiming $53,000 for the first time since Thursday. What could lie in store?Cointelegraph takes a look at five factors that could shape BTC price action in the coming days. BTC/USD … [Read more...] about 5 things to watch in Bitcoin this week as greed and leverage get ‘flushed out’
Bitcoin Could Be in the Greed Stage Based on High Leverage Being Used
Bitcoin’s market could have entered the ‘greed stage’ based on the high leverage being used by BTC tradersThe amount of leverage has increased since FebruaryThe weekly Bitcoin chart is hinting of exhaustion and a top might not be too far awayThe Bitcoin market might have entered the ‘greed stage’. This is according to an analysis done by the CEO of CryptoQuant, Ki Young Ju, who … [Read more...] about Bitcoin Could Be in the Greed Stage Based on High Leverage Being Used
Scandal as $45M of stolen government funds allegedly lost on 100X leverage
Blockchain security company Beosin has been the focus of a major scandal after its Chief Marketing Officer Gao Ziyang was taken into custody and charged with embezzlement of state-owned assets. He is alleged to have been using government funds to unsuccessfully short BTC, resulting in a massive liquidation of over 300 million renminbi, or $45 million dollars. Beosin, also known … [Read more...] about Scandal as $45M of stolen government funds allegedly lost on 100X leverage
Extreme leverage drove $500 million worth of BTC liquidations in one hour
The Bitcoin markets emphatically rejected the $60,000 price range on March 15, with excessive leverage driving a record $500 million worth of long liquidations over just 60 minutes.Glassnode’s founders, Jan & Yann, emphasized the new record hourly Bitcoin for liquidations, noting that more than half open futures contracts prior to the margin calls were leveraged by at least … [Read more...] about Extreme leverage drove $500 million worth of BTC liquidations in one hour