Bitcoin futures leverage ratio’s sharp June fluctuation hints at market deleverage phase

Onchain Highlights DEFINITION: The Estimated Leverage Ratio is the ratio of the open interest in futures contracts to the balance of the corresponding exchange. Bitcoin’s futures estimated leverage ratio indicates shifts in market sentiment. Since January 2024, the ratio exhibited volatility, initially fluctuating around 0.17 before rising to 0.216 in early June. This increase coincided... source: https://cryptoslate.com/insights/bitcoin-futures-leverage-ratios-sharp-june-fluctuation-hints-at-market-deleverage-phase/