Glassnode warns altcoin leverage stays near peaks despite price drop
- —Over 40% of large-cap altcoins remain near yearly leverage highs
- —Share of mid-cap altcoins at peak leverage hit a yearly record
- —Leverage peaked earlier this month and has not reset after the price drop
- —A deeper decline could pressure a large number of long positions
Why it matters: Elevated leverage in a weak market raises the risk of cascading long liquidations if the correction deepens.
Source: Koin Bülteni