Coingecko data show that as of 5 a.m. on October 28, bitcoin's 24h lowest price was around $58000, which was the first sharp decline after bitcoin hit a record high of $67000 on October 20, with a maximum decline of 13% on the 7th. The good news of the approval of bitcoin futures ETF by the United States has been digested in a week. The ETF has been brewing from the news to its official listing, which is the cycle of bitcoin from US $56000 to US $60000. Combined with market data, the decline of bitcoin suggests that some investors have taken profits. The market is indeed moving towards greed in the short term. One indicator is the over leverage of the bitcoin market. According to cryptoquant, the data website, when bitcoin moved to a new high in this round of prices, the estimated leverage ratio of all exchanges was 0.175, which was close to the historical secondary high in April. At that time, the leverage ratio continued to rise, once exceeding 0.18, and then bitcoin entered th...
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