Traders’ leveraged bets on Bitcoin’s $60,000 level drive market volatility

Bitcoin has been stuck in a choppy range since its $70,000 peak, evoking déjà vu of the $9,000 phase in 2019. According to CryptoSlate's Checkmate, traders are on edge as price swings grow bolder. ByBit has surged in prominence, with wild fluctuations in funding rates and open interest as traders gamble on leverage. This tug-of-war has sparked a rise in realized volatility. But amidst this frenetic activity, one question looms—what will ultimately trigger Bitcoin’s next major move?

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