, leading on-chain analytics platform Glassnode assessed the current state of BTC’s on-chain performance. The report also offered insights into what might come in the next trading year.Following the widespread FUD that caused BTC’s price to plummet to a two-year low in November, the leading coin has seen some relief since the beginning of December. Currently exchanging hands at $17,144.23, “the Bitcoin market has turned very quiet coming into December,” Glassnode stated.
With the BTC Futures market logging a daily trading volume of $9.5 billion, Glassnode opined that this Another impact of FTX’s implosion on BTC’s Futures market was a significant decline in BTC Leverage Ratio. An assessment of BTC Futures Open Interest Leverage Ratio revealed that it was pegged at 2.46% as of 12 December. Prior to FTX’s fallout, this was at 3.46%.