"Bitcoin leverage ratio lowest since 'large-scale liquidations in October'"

The leverage utilization across the Bitcoin (BTC) futures market has fallen to its lowest level so far this year.

On the 15th, according to crypto asset-focused media BlockBeats, analyst Ali Martinez, citing CryptoQuant data, said, "As investors moved to avoid risk, the Bitcoin leverage investment ratio fell to its lowest level since May and the 'large-scale liquidations last October.'"

The drop in the leverage ratio means that aggressive position building through borrowing in the futures market is decreasing. This is interpreted as a sign that investors are reducing position sizes and adopting defensive strategies amid a phase of increased price volatility.