Bitcoin Perp longs are piling in while spot is quietly exiting. 🚨



BTC at 72.5K with a dangerous divergence:

• Perp CVDs: +3.21B (longs accumulating)
• Spot CVDs: -53.09M (distribution)
• Premium Index: -68.82 (perps below spot)
• Both deltas negative: Active selling

Perp traders are longing into spot selling. Negative premium confirms weak conviction - perps won't pay a premium despite the OI buildup.

Key Level: 70K

Lose it, and 3.21B in perp longs become liquidation fuel. Long liq line is flat - the flush hasn't happened yet.

Takeaway: Classic long trap. Perps catching a knife while spot exits.

Until premium flips positive and spot CVDs stabilize, any strength is borrowed time.
BTC-2,96%
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