The optimism is abound for bitcoin price going higher - then again, does that always bode well?
Looking at the leveraged longs data for bitcoin has continually increased the past year within the ETF space.
Right now the spread of leveraged longs to shorts is the highest it has been since the last market top in 2021.
Granted it is not as high as it was then, but it is already higher than any other period since this space was producing data.
Bitcoin Top Where Are You?
Looking at this graph above, it does make me take pause and consider there is a chance that we are near the top for this cycle. I do hope that is not the case and there are outlying factors that could push price higher, but call for 114k, 120k that I have seen seem rather realistic.
Personally I hope we see atleast 125K
Posted Using InLeo Alpha