Glassnode: Bitcoin Leverage Climbs Through Selloff

Glassnode noted leverage expanded through the Bitcoin selloff, with open interest adding about $1B during the US session decline and nearly $500M more into the current session while funding cooled then accelerated again.

Bitcoin sits at $75992.5 beneath the EMA50 at $78082.84 and the EMA200 at $80603.42, locking in a bearish trend structure reinforced by the MACD death cross at -622.82. Price remains inside the Bollinger bands with upper resistance at $81567.62 and lower support at $74019.32, so a test of that lower band looks probable before any sustained bounce as RSI at 39.02 stays neutral.