The entire crypto money market, especially Bitcoin (BTC), has been going through a troubled process for the last 2 weeks and the market is red. The collapse in the crypto money market, especially Bitcoin (BTC) and Ethereum (ETH), continues in the last 24 hours.

After a major decline, Bitcoin (BTC) price found support near the $40,600 level. Bitcoin (BTC) is currently at $42,000. The first hurdle on the upside is near the $42,500 level. The first major resistance for Bitcoin (BTC) is near $44,000; Above this, the price may rise to the $45,000 level.

Ethereum (ETH) price tested the $3,130 level where the bulls stopped. However, Ethereum (ETH) is currently struggling to start a decent recovery wave above $3,300. The next major hurdle for Ethereum (ETH) is near $3,450; Above this, the price could rise as high as $3,750.

$800 Million in Leveraged Transactions

In particular, the Bitcoin (BTC) price has lost almost 20 percent of its value in the last 15 days. On the other hand, the amount of crypto assets liquidated in leveraged transactions exceeded $ 800 million.

According to CryptoQuant data; After increased volatility, the estimated leverage for Bitcoin (BTC) has reached an all-time high.

Btc Leverage Ratio

It is quite common to observe an increase in long and short transactions, especially after sudden decreases and rises in cryptocurrencies, but this situation brings a great risk. The Bitcoin leveraged transaction rate is calculated by dividing the open transactions of exchanges by the reserves of the asset.

According to CryptoQuant data, this rate for Bitcoin (BTC) has broken the all-time record with 0.224. A ratio higher than 0.22 indicates that more investors are risking high leverage. Lower values ​​mean that investors are increasingly risk-averse in trading the asset.