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CryptoQuant analyst: Excessive leverage and slow buying led to a drop in BTC prices this morning

CryptoQuant analyst: Excessive leverage and slow buying led to a drop in BTC prices this morning

CointimeCointime2024/12/06 07:34
By:Cointime

CryptoQuant analyst Maartunn analyzed the reasons for the BTC price drop this morning on social media, including:

· Binance's net buy/sell trading volume showed a large amount of selling pressure and a slowdown in buying power

· The current surge in BTC was driven by leverage, with open interest increasing by more than 15%

· The combination of the above two signals occurred in a market sentiment of extreme greed

0

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.

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