Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo
Seeking Alpha 2021-10-27 12:20:45

Bitcoin falls, Shiba Inu extends advance as crypto leverage ratio increases

Most cryptocurrencies slump as estimated leverage ratio nears a year-high, an indication that crypto prices have peaked. Bitcoin (BTC-USD) falls under $60K compared with its all-time high of just under $67 reached last week. Ethereum (ETH-USD) drops to just under $4K, Binance Coin (BNB-USD) falls 6.6%, Cardano (ADA-USD) drops 8.3%, dogecoin (DOGE-USD) sinks 13%. “Estimated leverage ratio is about to hit a year-high. It seems obvious that the market is over-leveraged now,” Ki Young Ju, CEO of data analytics firm CryptoQuant tells CoinDesk. "We'll see some volatility with huge liquidations shortly." Shiba Inu (SHIB-USD), though, extends its climb, rising 16% over the past day. That also points to an overbought market. "Dog coins are mooning again, which has historically been a pretty good indication of an overheated market," according to a Delphi Digital note published on Oct. 25. Leverage ratio is calculated by dividing futures open interest spanning all exchanges by bitcoin

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.