Bitcoin Near $80,000 As Leveraged Bets Remain High
Leverage traders continue to bet on a bitcoin rebound despite weak spot purchases. This divergence could amplify a new drop below 80000 dollars, as many long positions would then be exposed to forced liquidations. The perpetual futures market shows that bullish bets remain significant. According to Glassnode’s weekly report published on October 19, payments made by long positions increased by 49.4%, from $1.1 million to $1.6 million.