Low Exchange Reserves Suggest Futures Traders Are Over-Leveraged
The number of Bitcoins held on exchanges continues to decline despite growing open interest in the futures markets.
Cryptocurrency market data aggregator Glassnode has reported that the number of Bitcoins (BTC) held on centralized exchanges has fallen to a 12-month low.
The decline in exchange reserves comes amid numerous recent records for open interest in Bitcoin futures contracts, suggesting that many traders may be over-leveraged.
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