Bitcoin's Margin Lending Ratio Drop Sparks Healthy Rally to $30K
Originally Published 2 years ago — by Cointelegraph
Bitcoin's recent rally above $30,000 is supported by strong macroeconomic data, but investors are questioning its sustainability. However, Bitcoin derivatives metrics show no excessive leverage from longs, indicating a healthy market structure. Professional traders have kept their leverage long positions unchanged, and Bitcoin futures traders have not added leveraged bullish positions. Therefore, BTC price can easily rally another 10% to $33,000 given sellers are currently scared to short it.