Market Wrap: Bitcoin Vulnerable to Rising Leverage Despite Short-Term Optimism

Market Wrap: Bitcoin Vulnerable to Rising Leverage Despite Short-Term Optimism
Bitcoin continued to trade in a tight range on Thursday and is roughly flat over the past 24 hours. Some analysts are concerned that rising leverage in the bitcoin futures market could precede a near-term price drop, while others expect the current trading range to result in further upside.CryptoQuant analysts pointed to the slower pace of whales, or large bitcoin buyers, buying as a cautious market signal. Meanwhile, technical indicators suggest bitcoin’s price decline could stabilize at around $53,000, although upside appears to be limited beyond $60,000-$65,000.With the end of year approaching, some analysts told CoinDesk that most investors will…