Systemic leverage ratio
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Wu Blockchain· 2025-12-10 04:15
Coinbase Institutional: Speculative excess has been flushed out. Our systemic leverage ratio, which tracks purely speculative positioning, has stabilized at ~4%–5% of total market cap, down from ~10% this summer. Lower leverage = healthier market structure + less vulnerability to sharp drawdowns heading into year-end. https://t.co/mcJndyK1dI ...