When open contracts expand aggressively like this, the market usually becomes overly leveraged, leading to sharp liquidations. Historically, this either results in downward wicks clearing out the longs or a final upward push before distribution that triggers a short squeeze.

For a healthier long setup, open contracts need to reset, prices must hold key support levels (the recent consolidation area), and spot CVD should show a new positive divergence. Otherwise, the current trend will still be driven by leverage and structurally fragile. $BTC #分析师剑客