Bitcoin is in an uptrend after breaking through the support level of 49,000 ~ 53,000 USDT in late September. Despite the record high leverage ratio, investors still hold strong positions. Caution is needed if Bitcoin reaches a new high or encounters strong profit-taking pressure.

The average price of short-term holders (1-3 months) is 66,976 USDT. Maintaining support above 66,000 USDT is important to maintain the current bullish momentum. If it falls below this level, selling pressure may increase.

Open interest reached a record 20 billion USDT, indicating strong market participation and high volatility potential.

The SSR index rebounded, reflecting strong buying interest. This shows that stablecoins are being used to buy Bitcoin, suggesting a positive change in market trend.

With Bitcoin near an all-time high and on-chain metrics such as 20 billion USDT open interest, record leverage, and rising SSR, buying momentum is picking up, signaling the possibility of a new high. However, maintaining support above 66,000 USDT is crucial. If there is a breakout, large-scale profit-taking could lead to increased volatility, so risk management is essential for investors.