Beware of the risk of short-term market correction
The strong rise of $BTC yesterday led to the current high market sentiment.
The leverage has risen rapidly. OKX's USDT lending rate exceeded 40% twice this morning, and bybit's USDT lending rate has also exceeded 30%.
The total holdings of Bitcoin have also risen rapidly. The current price has only reached 66,500, but the holdings have basically reached the high point of holdings in early June and late July.
Excessive leverage is not conducive to the continued rise of the market, and the trading volume of Bitcoin has also increased when it has pulled back above 65,000, which means that there has been a relatively large sell-off.
Therefore, there may be a relatively large pullback next, and the pullback is unlikely to fall below the support area, with a stop loss of 62,000.
