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Increased Bitcoin Leverage

Increased Bitcoin Leverage Ratio drops prices below $50,000 again

Bitcoin Leverage Ratio touched an all-time high today pushing Bitcoin to as low as $48000 after it failed to cross over $52,000 resistance.

Bitcoin price today is $49,164.30 USD with a 24-hour trading volume of $30,913,077,533 USD. Bitcoin is down 3.80% in the last 24 hours, with a market cap of $929,857,518,684 USD. It has a circulating supply of 18,913,268 BTC coins.

Increased Bitcoin Leverage
Source: Tradingview

Increased Bitcoin Leverage: Analysis

Increased leverage ratio increases volatility and due to high leverage, there is a greater risk of traders getting liquidated causing Bitcoin to lose price. On the hourly chart, Bitcoin is bearish and has entered an oversold situation. This oversold situation can be a reason to hold the prices here and buyers might get in. Bitcoin is currently ranging below EMA 200. Bitcoin needs to surpass and comfort psychological resistance of $50000.  We have major support above $45000.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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