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Bullish AF: Bitcoin At $42K, Comparing Today’s Leverage With That Of February?

Bullish AF: Bitcoin At $42K, Comparing Today’s Leverage With That Of February?


NewsBTC
2021-08-07 03:51:25
Bullish AF: Bitcoin At $42K, Comparing Today’s Leverage With That Of February?

Bitcoin reached $42K before, but not with these characteristics. The market seems healthy and practically unleveraged. Greed is just showing its face after months of Fear. How did we get here? Calmly and consistently stacking sats, that’s how. What does this mean for the future of BTC’s price? Is the rocket about to take off? Related Reading | Volatility Inbound: Bitcoin Traders are Upping Their Leverage as Election Nears Before going into that, let’s look at the chart from Bitcoin Magazine’s Dylan LeClair. It gives the US Central Bank balance sheet a run for its money as the most bullish Bitcoin chart. Leverage the first time we hit 42k $BTC in February compared to now. This is all spot driven. pic.twitter.com/QjtJ0zWSgj — 🟠Dylan LeClair🟠 (@BTCization) August 6, 2021 The difference is astonishing. In February, Bitcoin got here by borrowing money from exchanges. The futures market was on fire and growing. The bloodbath was a month away. Nowadays, leverage is just raising its head after a few months in the red. The casino is almost empty. Real money drove the climb back from hell. Gradually, step by step. Does this mean we’re up for a sudden blast into space? BTC price chart for 08/07/2021 on Bitstamp | Source: BTC/USD on TradingView.com If Not From Leverage, Where Is The Money Coming From? Some institutions are probably buying. Chances are we’ll see Bitcoin holdings declared next quarter. However, according t...

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