Bitcoin Leverage Ratio touched an all-time high today pushing Bitcoin to as low as $48000 after it failed to cross over $52,000 resistance. A high leverage ratio increases volatility and due to extreme leverage, there is a greater risk of traders getting liquidated causing Bitcoin to sell off sharply. On the hourly chart, Bitcoin is bearish and has entered an oversold situation. This oversold situation can be a reason for BTC to stabilize. Bitcoin is currently ranging below EMA 200. Bitcoin needs to comfortably suprases psychological resistance of $50000. We have major support above $45000.
