Leverage are being flushed out of the market as it should

Leverage-are-being-flushed-out-of-the-market-as-it-should

Since Nov 2021 up to Oct 2022 (almost a year), we are seeing quite weird thing happening in the market in which bitcoin took unexpected downturns, but the estimated leverage ratio kept getting higher and higher. 

The market finally realized that these highly leveraged positions are sustainable. I still expect this leverage ratio to further go down, as many would lose hope in the market, as the market is consolidating for a move higher.