Binance Warning? Leverage Explodes As Crypto Tracks A World On Edge

Binance’s futures-to-spot ratio has jumped to a 1.5-year high, its highest level since mid-2023. But why?
What The Binance Data Says About The Market
New data from CryptoQuant analyst Maartuun shows that Binance’s derivative volume is dwarfing spot trading, as the futures/spot ratio has risen to around 5.1. This means that for every $1 traded on spot, about $5 are traded on futures. Most “price discovery” and liquidity is happening in the derivatives order books, not in s