This looks like its about to dump.


Open Interest is currently at ATHs!
What we can see here over the last year is that every single time Bitcoin Open Interest has hit this level, it has reversed hard.
What this shows us is that leverage in the system is extremely high right now.
An interesting observation here though is that Bitcoin tends to reverse from whichever direction its going as it hits this OI level.
On 10/10 we pumped into it an dumped hard as OI collapsed.
Then at $80k, $60k and $59k, we moved higher after OI hit this level.
This is because leverage traders almost always trade with the trend.
All eyes on which way Bitcoin moves as this massive leverage build up unwinds.
Hold on to your hats bois.
BTC-1.57%
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