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Crypto traders just piled on the most leverage since the $BTC top in October.
Nearly $160 billion in perpetual futures open interest. Highest in 11 months.
The last time it sat this high, $BTC had just peaked at $126K. Then came the $19 billion liquidation day.
Leverage is rocket fuel, guys. Gets you up fast. Makes the fire bigger too. With this much borrowed money in the market, the next big move gets violent in either direction, right?
A huge correction is not unheard of, but neither is a huge pump.
Which way do you think we're going?