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Bitcoin Leverage Squeeze Likely in ‘Coming Weeks’ - Analysts
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cryptonews.comA rapid increase in the amount of leverage coming from the bitcoin (BTC) futures market could mean that either a short or long squeeze will be seen “in the more immediate term,” according to on-chain analytics firm Glassnode.
“Whilst futures open interest is still some way off all-time-highs, rapid increases in leverage can indicate a clustering of stop-losses and liquidation levels in close proximity to the current price,” Glassnode wrote in its last The Week Onchain report for 2021.
It added that this increase in leverage “adds higher probabilities to a potential short, or long squeeze in the more immediate term.”
Meanwhile, one analyst indicated today that the current market conditions make a bearish long squeeze more likely than a short
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