Bitcoin is setting up in a risky way right now
Open interest is pushing close to yearly highs, but the Coinbase premium isn’t moving.
That tells us one thing: leveraged longs are entering aggressively, while real spot demand isn’t backing it.
When this kind of imbalance builds, it often doesn’t end well.
$BTC $XRP
#USAndIranTradeShotInTheStraitOfHormuz #AaveFightsCourt-ordered$73METHFreeze
Open interest is pushing close to yearly highs, but the Coinbase premium isn’t moving.
That tells us one thing: leveraged longs are entering aggressively, while real spot demand isn’t backing it.
When this kind of imbalance builds, it often doesn’t end well.
$BTC $XRP
#USAndIranTradeShotInTheStraitOfHormuz #AaveFightsCourt-ordered$73METHFreeze