Bitcoins failed to reach $100k after massive deleveraging

Massive deleveraging stopped Bitcoin from breaking through $100k

As Bitcoin enthusiasts eagerly anticipated crossing the $100,000 mark, a subtle yet powerful dynamic unfolded beneath the surface—one that could make or break this landmark achievement. Estimated leverage ratios (ELR), which measure the amount of leverage on the market in relation to Bitcoin reserves, surged, driving BTC to new highs. A surprising divergence was revealed when the chill of November set in. This suggested a fundamental shift. What do these changes reveal about Bitcoin’s future? Could they be the basis for its sustainable growth in the future?

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leadzevs/ author of the article

LeadZevs (John Lesley) is an experienced trader specializing in technical analysis and forecasting of the cryptocurrency market. He has over 10 years of experience with a wide range of markets and assets - currencies, indices and commodities.John is the author of popular topics on major forums with millions of views and works as both an analyst and a professional trader for both clients and himself.

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