Some crypto traders suggest waiting on the sidelines to avoid getting “rinsed by leverage,” as they can always “play catch up later.”
Traders with leveraged positions in Bitcoin (BTC) could be in for a nasty surprise as the cryptocurrency faces a critical crossroads, which could see the price bounce in different directions, analysts warn.
“The market was in easy mode, but right now clearly there’s too much leverage and market makers are having a field day exploiting high emotions and degenerate behavior,” pseudonymous crypto trader HoneyBadger said in an April 11 post on X.
“Market makers are having the best time ever chopping everyone up,” he added.
