It’s been an explosive past 24 hours for the Bitcoin market. The leading cryptocurrency traded as high as $10,429 on Monday, surging higher as dozens of millions worth of short positions were liquidated on BitMEX. Prices have since retraced since the start of this move. BTC trades at $10,100 as of the time of this article’s writing. Futures funding rates are now multi-month highs, showing that longs are potentially becoming overleveraged. Analyst Joseph Young explained: […]
