Bitcoin Price: BTC, the leading cryptocurrency by market cap, witnessed a notable supply pressure on the weekend leading to an immediate reversal from its new all-time high of $73750. The bearish turnaround evidenced by three red candles plunged the asset 9.63% down to currently trade at $66777. However, market experts perceive this sell-off as a natural pullback in an established rally to regain bullish momentum.
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BTC Price Sustainability Questioned by Leverage Concerns
Bitcoin Price| Tradinview
Within the last two months, Bitcoin has witnessed an aggressive rally, registering a price from $38555 to a new time high $73,750. This 91% upswing accompanied by increasing volume and massive inflow through BTC ETFs indicated a sustainable rally.
However, the analytics platform IntoTheBlock has reported a surge in crypto leverage, noting that Bitcoin’s borrowing costs on exchanges such as FBnance and Bybit have reached
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