The crypto market is showing signs of instability. After breaking a record high last week, Bitcoin is entering a price discovery phase that is at risk of a short-term correction.

- Over US$$ 16 billion in open positions were added in the futures market, indicating a significant increase in leverage.

- Funding levels reached their highest since late March, when BTC experienced a major correction.

However, the current market structure is more robust. Short-term corrections are considered a healthy normalization step. As long as the cyclical indicators do not show risk, this correction can be seen as a buying opportunity for investors.