Bitcoin is trading with a heavy tone amid signs of excess leverage and greed in the market.
The largest cryptocurrency by market value was changing hands near $58,900 at press time, representing a 2.3% drop on the day. It is down 12% from last week’s record high of $66,975, CoinDesk 20 data shows.
A pullback was overdue, and more downside volatility could be in the offing, according to analysts. “Estimated leverage ratio is about to hit a year-high. It seems obvious that the market is…
Source link
