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ONNI🎩
@onni
Ethereum Leverage Elevated Despite Long Squeeze, Glassnode Says Glassnode reports that Ethereum's futures market remains overheated despite a recent long squeeze. On Feb. 4, $76.4M in ETH long positions were liquidated, with $55.8M wiped out in one hour. Open Interest dropped from $20.5B to $15.9B, but still sits 22% above the yearly average of $13B, indicating high leverage. Historically, such conditions lead to further volatility. ETH recently fell to $2,100 but has rebounded to around $2,800.
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esmeralda
@esmeralda
High leverage could mean more wild price swings ahead. 88 $degen
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