🎯BTC futures contract holdings across the entire network have reached a new high! 🎯
📌BTC futures contract holdings across the entire network have officially reached a new high, reaching 39.1 billion US dollars, exceeding the total holdings when BTC peaked at 73,800 six months ago. The current price is 68,000, which is nearly $6,000 less than 73,800. The price is $6,000 less under the same position, and the divergence difference is still expanding.
💡Such a high position means that market profits are almost entirely from long orders, and short orders have either just been damaged or just passively opened, while the spot market has not yet exerted its strength. If a large amount of long orders are closed, it may trigger a chain liquidation of high-multiple long orders, resulting in a deep price correction. Friends who chase long orders must set a rigid defense, just in case!
🆚Futures pull-ups are very different from spot pull-ups: the former is to build a building first and then lay the foundation, while the latter is to build a building first and then build the top floor and wait for others to lay the foundation. When you are lucky, the subsequent spot fomo enters the market. Although there is a foundation, the center of gravity is on top. Bad news like a gust of wind may cause it to tilt and collapse; the former always remains stable, the spot stabilizes the overall structure at the bottom tray, and the futures charge at a high level to open up rising space.
