Bitcoin

<h2 id="quick-take">Quick Take</h2>
<ul>
<li>Bitcoin (<a href="http://www.cryptoslate.com/coins/bitcoin">BTC</a>) Futures Open Interest (FOI) is the total amount of funds (USD Value) allocated in open futures contracts. </li>
<li>Currently, 334,000 Bitcoin is allocated in FOI contracts, the lowest for one year — which is healthy. </li>
<li>While the Estimated Leverage Ratio broke below 0.2 for only the fourth time in 2 years, leverage has been wiped. </li>
<li>Crypto Margin makes up for only 70k Bitcoin (21%), the lowest recorded on Glassnode — which saw 30,000 Bitcoin liquated just this week. </li>
<li>As a result, this week was the fifth biggest week in total <a href="https://cryptoslate.com/insights/bitcoin-approaches-30k-amid-140m-of-liquidations-in-24-hours/">liquidations</a> to the long and short side.</li>
</ul>
<figure id="attachment_321307" aria-describedby="caption-attachment-321307" style="width: 1800px" class="wp-caption aligncenter"><img class="wp-image-321307 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/04/1.png" alt="Open Interest: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/04/1.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/04/1-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/04/1-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/04/1-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/04/1-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px" /><figcaption id="caption-attachment-321307" class="wp-caption-text">Open Interest: (Source: Glassnode)</figcaption></figure>
<figure id="attachment_321308" aria-describedby="caption-attachment-321308" style="width: 1800px" class="wp-caption aligncenter"><img class="wp-image-321308 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/04/2.jpg" alt="Leverage: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/04/2.jpg 1800w, https://cryptoslate.com/wp-content/uploads/2023/04/2-300x169.jpg 300w, https://cryptoslate.com/wp-content/uploads/2023/04/2-1024x576.jpg 1024w, https://cryptoslate.com/wp-content/uploads/2023/04/2-768x432.jpg 768w, https://cryptoslate.com/wp-content/uploads/2023/04/2-1536x864.jpg 1536w" sizes="(max-width: 1800px) 100vw, 1800px" /><figcaption id="caption-attachment-321308" class="wp-caption-text">Leverage: (Source: Glassnode)</figcaption></figure>
<figure id="attachment_321309" aria-describedby="caption-attachment-321309" style="width: 1800px" class="wp-caption aligncenter"><img class="wp-image-321309 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/04/3.jpg" alt="Crypto Open Interest: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/04/3.jpg 1800w, https://cryptoslate.com/wp-content/uploads/2023/04/3-300x169.jpg 300w, https://cryptoslate.com/wp-content/uploads/2023/04/3-1024x576.jpg 1024w, https://cryptoslate.com/wp-content/uploads/2023/04/3-768x432.jpg 768w, https://cryptoslate.com/wp-content/uploads/2023/04/3-1536x864.jpg 1536w" sizes="(max-width: 1800px) 100vw, 1800px" /><figcaption id="caption-attachment-321309" class="wp-caption-text">Crypto Open Interest: (Source: Glassnode)</figcaption></figure>
<figure id="attachment_321310" aria-describedby="caption-attachment-321310" style="width: 1800px" class="wp-caption aligncenter"><img class="wp-image-321310 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/04/4.jpg" alt="Liquidations: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/04/4.jpg 1800w, https://cryptoslate.com/wp-content/uploads/2023/04/4-300x169.jpg 300w, https://cryptoslate.com/wp-content/uploads/2023/04/4-1024x576.jpg 1024w, https://cryptoslate.com/wp-content/uploads/2023/04/4-768x432.jpg 768w, https://cryptoslate.com/wp-content/uploads/2023/04/4-1536x864.jpg 1536w" sizes="(max-width: 1800px) 100vw, 1800px" /><figcaption id="caption-attachment-321310" class="wp-caption-text">Liquidations: (Source: Glassnode)</figcaption></figure>
The post <a rel="nofollow" href="https://cryptoslate.com/insights/bitcoin-leverage-wiped-clean-analyzing-the-5th-biggest-week-in-liquidations-its-market-implications/">Bitcoin leverage wiped clean: analyzing the 5th biggest week in liquidations YTD, its market implications</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.

Bitcoin leverage wiped clean: analyzing the 5th biggest week in liquidations YTD, its market implications

Table of Contents

CryptoSlate

Other articles published on Apr 28, 2023

Java Tutorial Part 1: Setting Development Environment and Writing Smart Contract

Crypto.com and Samsung to Offer Optimized Crypto Trading Experience on Z Fold Devices

"Superficial, Incorrect": Coinbase Fires Back at SEC Threat

LOCGame Weekly Update — April 28, 2023

Kickstarter is coming to #MEXC!

Mooky’s mission: How does a token support an important cause?

Join our free newsletter for daily crypto updates!