Warning Sign? Bitcoin Leverage Ratio Spikes On 4 Exchanges

Warning Sign? Bitcoin Leverage Ratio Spikes On 4 Exchanges

Source: Bitcoinist On January 12, Maartunn, a community on-chain analyst at CryptoQuant, issued a significant cautionary note when he posted on X, Bitcoin “Estimated Leverage Ratio spikes on 4 Major Exchanges.” The exchanges highlighted in his analysis—Gate.io, Bybit, HTX Global, and Deribit—have all exhibited distinctly higher levels of the Estimated Leverage Ratio (ELR), a measure…

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