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Fast Take
Many discussions have been round whether or not the latest Bitcoin rally is spot or derivatives pushed.
With the latest perception yesterday displaying appreciable spot accumulation on Coinbase, we will affirm it’s not being pushed by derivatives — which is exceptionally wholesome.
The Estimated Leverage Ratio is the ratio of the open curiosity (OI) in futures contracts and the stability of the corresponding change.
We’re but to see a significant build-up of OI — whereas the leverage ratio throughout exchanges is beneath the typical of the previous three years.
OI is lower than 400,000 Bitcoin beneath the three-year common — whereas OI is at the moment 2% the scale of the Bitcoin market cap.
The put up Bitcoin’s ongoing rally not derivatives or leverage pushed appeared first on CryptoSlate.
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