2024

Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>BitMEX has increased the leverage on its bitcoin perpetual swap, XBTUSD, to 250x ahead of the halving event.</li>
 <li>The bitcoin halving event, which will reduce the issuance rewards for bitcoin miners, is expected within the next 24 hours.</li>
</ul>
<p>Ahead of the anticipated halving event, crypto derivatives exchange BitMEX has amplified the leverage on its bitcoin perpetual swap, XBTUSD, from 100x to 250x.</p>
<p>This increase in leverage was a response to traders’ requests, aiming to capitalize on the volatility expected with the upcoming Bitcoin halving event.</p>
<h2 id="bitcoin-halving-event">Bitcoin Halving Event</h2>
<p>The halving event for <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> is predicted to take place in the next 24 hours. This event will result in a reduction of issuance rewards for Bitcoin miners, from the current 6.25 BTC per block to 3.125.</p>
<p>Stephan Lutz, CEO of BitMEX, expressed optimism about the year 2024 for BitMEX and crypto traders. He stated that the increased leverage to 250x for XBTUSD is intended to help traders maximize their gains during the bull market.</p>
<h2 id="increased-leverage-and-risks">Increased Leverage and Risks</h2>
<p>It’s important to remember that while increased leverage can potentially lead to greater profit, it can also heighten the risk of a trade turning sour and leading to liquidation.</p>
<p>The XBTUSD perpetual swap, first introduced in May 2016, has grown to become the most traded crypto derivatives product of all time. According to BitMEX, it has generated over $3 trillion in trading volume on their platform alone.</p>
<p>Despite a rapid drop overnight, Bitcoin’s price has rebounded and is currently trading at approximately $64,500.</p>

BitMEX amplifies Bitcoin swap leverage to 250x just before halving

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