Bitcoin’s price rejection at $68,500 and the record high use of leverage could be signs that BTC is in for a sharp correction.
Bitcoin’s (BTC) price has slowly bled over the past 24 hours, and there is an increasing possibility that the asset may have peaked at $68,500.
Let’s examine the factors that explain why Bitcoin’s recent high might be a local top.
During the Q1 rally, Bitcoin reached a new all-time high and BTC’s aggregated spot volume cumulative delta (CVD) was one metric that was consistently on the rise during that period. This indicator highlights the buying pressure by retail investors on exchanges like Binance, Coinbase, OKX, and Bybit.
