“Heavy Levever in Bitcoin Derivatives Has Set Up The Market for Potential Downside Cascades, with Pockets of Vulneracy Looming if Prices Break Lower.”, – WRITE: www.coindesk.com
Market Analyst Skew Warned One Trader Intent on Opening A Nine-Figure Long Position to “Maybe Wait for Spot to Carry The Buying So IT Doesn’t Create Toxic Flows.”
Bears Are Also Adding Leverage, with A Separate Tradeer Currently Dealing With A $ 7.5 Million Unrealized Loss After Shorting BTC to the Tune of $ 234 Million WitH An Entry at $ 111.386. That Trader Added $ 10 Million Werth of Stablecoins to MainTain Their Position, with The Liquidation Currently Standing At $ 121.510.
But The Majoor Liquidation Risk is Present to the Downside, With Data From The Kingfisher Showing A Large Pocket of Derivatives Will Be Liquidated Between $ 113.300 and $ 114,500 Liquidation Cascade Back to the $ 110,000 Level of Support.
“This Chart Shows WHERE Traders Are Over-Levered,” Wrote the Kingfisher. “IT’s A Pain Map. Price Tends to Get Sucked Into Those Zones to Clear Out Positions. Use this Data So You Don’t End Up on the Wrong Side of A Big Move.” “”
Bitcoin is Currently Trading Quietly AROUND $ 115,000 HAVING ENTED A PERIOD OF LOW VALLATICH, Failing to Break Out of Its Current Range for More Two MONHS.
That would be a massive jump as the Betting Platform Raised Funds at Just A $ 1 Billion Valuation Just Back in June.
- Polymarket Considered A $ 9 Billion Valination in A Potential Deal, Sources Told The Information.
- The CFTC Recently Cleared Polymarket to Operate in the US After A Prior Ban.
- Rival Kalshi’s Valuation Has Also Grown to $ 5 Billion, Accounting To Report, Highlighting Momentum in Predict Markets.
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