📣 Heads up, crypto fans! 📈 Bitcoin's in a risky spot, according to CryptoQuant's Gaah. Despite the halving event, BTC's price might dip due to pressure from leveraged traders. Here's the lowdown:

- Bitcoin's open interest is mid-range, meaning investors are neutral about new positions.

- However, the price is in a dicey area for leveraged traders. Any significant pressure could cause a price correction, sending BTC lower before a new high. 📉

- The market sentiment is euphoric, indicating extreme greed. This could lead to a major decline.

BTC has been on a rollercoaster, dropping from a high of $73,700 in March to less than $62,000, then bouncing back to the $70,000 range.

CryptoQuant suggests that high demand from large BTC investors could drive the post-halving rally.

What do you think? Will BTC dip or soar? Share your thoughts below! 👇 #Bitcoin #CryptoNews #DeFi