Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
CryptoQuant CEO: Bitcoin market leverage cools down, USDT reserves in exchanges have surged 32% over the past month

CryptoQuant CEO: Bitcoin market leverage cools down, USDT reserves in exchanges have surged 32% over the past month

Bitget2024/12/11 12:11
BTC-1.49%

On December 11, Ki Young Ju, the founder and CEO of CryptoQuant, posted on X that the leverage in the Bitcoin market is easing. The volume of outstanding BTC-USDT futures contracts has dropped by 7% from its peak, while at the same time, USDT balances on exchanges have surged by 32% over the past month. Ki Young Ju pointed out that if these additional USDTs are used for futures trading margins, it will help reduce the risk of cascading liquidations in the market.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Trending news

More
1
Meta plans to build a new gigawatt-level data center in Texas
2
Milan: The recent decline in long-term yields indicates that the market believes the Federal Reserve's rate cuts are the right decision.

Crypto prices

More
Bitcoin
Bitcoin
BTC
$111,207.84
-1.77%
Ethereum
Ethereum
ETH
$3,988.85
-3.38%
Tether USDt
Tether USDt
USDT
$1
-0.01%
BNB
BNB
BNB
$1,168.95
-4.02%
XRP
XRP
XRP
$2.43
-2.75%
Solana
Solana
SOL
$196.88
-2.78%
USDC
USDC
USDC
$0.9996
-0.03%
Dogecoin
Dogecoin
DOGE
$0.1987
-2.74%
TRON
TRON
TRX
$0.3176
+0.28%
Cardano
Cardano
ADA
$0.6742
-4.10%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter