Crypto traders see escape from tightest range in 2 years as bitcoin and ether record highest-ever leverage ratios


Source: scmp.com scmp.com

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The cryptocurrency market appears by some measures to be poised to break out of the narrowest trading range in almost two years. Based on one gauge, the leverage ratios for the two largest tokens by market value – bitcoin and ether – are at the highest on record even with prices of both down more than 50 per cent this year. That is calculated by taking the amount of open interest for perpetual swap contracts and dividing that by the amount of coins held in reserve on exchanges, according to blockchain data-site CryptoQuant. “Folks think the market has stabilised and...