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RE: LeoThread 2023-09-20 17:08

in LeoFinance • last year

🧵 1. Surprise turn in Binance legal battle with SEC as judge rejects access to Binance.US's systems. Market responds positively, Bitcoin surges above $27k resistance. #crypto

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🧵 2. Traders ponder if Bitcoin rally driven by leverage or spot buying demand. Metrics on derivatives may provide answers. Follow-up hearing scheduled for Oct. 12.

🧵 3. Binance's founder remains firm that Binance.US never used Binance International's custody solutions. SEC yet to produce clear evidence of deception. Risks increase for Binance.

🧵 4. Despite lack of evidence, outlook for Bitcoin bulls improves for next three weeks. No expected changes until court hearing. Professional traders show increasing optimism.

🧵 5. Margin-lending ratio drops for OKX traders, suggesting decreasing bullishness. Ratio at lowest point in three months. Excessive confidence typically seen at ratio above 30.