BTC’s Rising Leverage Trades Show Signs of Stress, Galaxy Digital Says
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Leverage in crypto markets is surging back to bull-market levels, even as last Thursday’s pullback reminded traders how quickly overextended bets can unwind.
Galaxy Research’s Q2 State of Crypto Leverage shows crypto-collateralized loans expanded 27% last quarter to $53.1 billion, the highest since early 2022, powered by record demand in DeFi lending and a renewed appetite for risk.
That backdrop set the stage for last week’s shakeout.
Bitcoin’s retreat from…
