Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

The Bitcoin derivatives market has reached a notable milestone, as the estimated leverage ratio for the asset has surged to its highest level of the year, latest data from CryptoQuant shows.

This metric, which tracks the ratio of open interest to coin reserves on exchanges, signals increased leverage use among market participants. The growing trend suggests that investors are taking on more risk by “employing higher leverage,” which could significantly impact Bitcoin’s price.

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The Impact Of High Leverage On Bitcoin’s Market

The increase in Bitcoin’s estimated leverage ratio highlights the growing use of leverage among investors in the derivatives market. Leverage allows traders to borrow funds to increase their exposure to Bitcoin without needing to hold the full amount of capital upfront.

While this can amplify profits during periods of market upswings, it also increases the risk of significant losses if the market moves against the position.

A high leverage ratio can often be a double-edged sword for the crypto market. On the one hand, it may indicate that investors are increasingly confident in Bitcoin’s potential for an upward move, especially if the market sees a breakout.

On the other hand, if Bitcoin’s price continues to decline, it could lead to a wave of liquidations as overleveraged positions are forced to close, exacerbating the downward pressure.

This trend of rising leverage has drawn attention from various market analysts. CryptoQuant analyst EgyHash pointed out that the estimated leverage ratio reaching its highest point this year could lead to increased volatility in the market.

The higher the leverage, the more sensitive the market becomes to price swings, as even small moves can trigger liquidations and create cascading effects.

Analysts Weigh In On Bitcoin Future

Meanwhile, Bitcoin’s price continues to face challenges, particularly its inability to break above key resistance.

The cryptocurrency has struggled to maintain momentum, and despite the increased leverage in the market, Bitcoin has experienced a mere 0.2% increase over the past 24 hours and a 2.1% drop over the past week. As a result, the asset is now trading below $57,000, with a current price of $56,871.

While Bitcoin’s price remains under pressure, several prominent crypto analysts have shared their perspectives on what lies ahead for the cryptocurrency.

Among them is the analyst known as CryptoBullet, who recently compared Bitcoin’s current cycle to previous bull markets.

In a post on X, CryptoBullet highlighted the similarities between the present market and Bitcoin’s 2013 cycle, noting that the Stochastic Relative Strength Index (Stoch RSI) has shown patterns that mirror those seen during the 2013 rally.

Related Reading

CryptoBullet’s analysis suggests that Bitcoin could enter the final phase of its current cycle, with the potential for a “Wave 5” price surge that could push the asset to new highs.

#Bitcoin 1M Big Picture

This cycle doesn’t look like the 2017 or 2021 cycle. IMO it’s more like 2013 and Stoch RSI confirms it 👇

This cycle Stoch RSI peaked in March and during this 6-Month Consolidation in Wave 4 the Stoch RSI went lower than in 2016-2017 or in H2 2020-2021… https://t.co/Ni9NHHKxis pic.twitter.com/nreQcpAIFP

— CryptoBullet (@CryptoBullet1) September 10, 2024

While the analyst acknowledged that this cycle differs from those of 2017 and 2021, the technical indicators point to the possibility of a higher high on Bitcoin’s price chart shortly.

Featured image created with DALL-E, Chart from TradingView

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.