Bitcoin Holders Are Avoiding Leverage in the Latest Rally
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Bitcoin Holders Are Avoiding Leverage in the Latest Rally

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Azeez Mustapha

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On-chain analysis reveals that the use of leverage in trading Bitcoin has been significantly reduced, even as the market is currently experiencing an appreciation in the value of BTC. This could imply that traders and investors are bullish on Bitcoin but are hesitant to put all of their money into the market. The implication of this could lead to slow and steady growth for BTC as the overall trend flips bullish.

Market participants now seem to be becoming more cognizant of the risks involved in trading with leverage. Trading Bitcoin with leverage has been in existence for about a few years now. Leverage allows a trader to make more profits than he would have made without it. At the same time, trading with leverage can drastically increase the chance of getting liquidated much sooner if the price moves against the predicted direction.

Key Bitcoin Levels To Watch – January 22

The market seems to be recovering as it breaks the short-term low at $21479.00. However, the market still looks very bearish on the daily time frame since it has yet to break the long-term high at the $25215.00 price level.
Bitcoin holders are avoiding leverage in the latest rallyThe Moving Average Period 9 shows that the current direction of the market is upward, however, a daily bearish order block hangs at the $25215.00 supply zone. If the order block is not mitigated, the price might eventually resume its original trend in a downward direction.

Bitcoin Key Levels

Resistance Levels: $28800.00, $25215.00, $21479.00
Support Levels: $18385.00, $15512.00, $12487.00

Total Market Capitalization: $1.03T
Bitcoin Market Capitalization: $436.70B
Bitcoin Volume: $25.28B
Market Rank: #1

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