Very Dangerous Setup for Bitcoin 🚨
Bitcoin open interest is near yearly highs while Coinbase premium stays flat.
Late longs are piling in but spot demand isn’t following.
This usually ends very badly. https://t.co/W5vCWqjedT
Very Dangerous Setup for Bitcoin 🚨
Bitcoin open interest is near yearly highs while Coinbase premium stays flat.
Late longs are piling in but spot demand isn’t following.
This usually ends very badly. https://t.co/W5vCWqjedT
$SPX 500 all time high
$QQQ all time high
$BTC down 35.5% from ATH 📉
Funding is telling us that bears are over-levered even here, if we can keep this up, we will squeeze them. They will cover and we will squeeze again.
The cycle is reflexive.
Price, sentiment, price, squeeze, sentiment, price
We have now climbed over 30% from the lows for $BTC and funding is still negative.
Each vertical white line marks a day of negative funding... https://t.co/neHzTqFSZr