Bitcoin Smashes Past $111K, But Are Traders About to Dump?
Bitcoin has reached a new all-time high above $111,000, trading at $111,226 with a 2.2% increase in the last 24 hours. This rise has surpassed the psychological barrier of $110,000, fostering optimism for its medium-term outlook. However, analysts are observing market data for potential risks. Increased exchange inflows and high leverage ratios indicate caution among investors. Approximately 3,000 BTC and 60,000 ETH have entered Binance as Bitcoin peaked, suggesting profit-taking intentions. Open interest on Binance has exceeded $12 billion, reflecting speculative engagement. Elevated leverage ratios at 0.20 may heighten volatility risks. While these indicators are not bearish individually, their convergence at a new high could signal short-term instability and increased profit-taking activity.
