Crypto Sell Pressure Still Dey Amid Futures Dem Don
Glassnode analysis dey show say crypto sell pressure still dey high as derivatives activity dey make market wahala plenty. Even though Bitcoin reach record high of $124,400, net inflows drop and profit-taking reach quarterly peaks. This kain strong crypto sell pressure wey leverage futures power show say spot holders selling alone no fit keep up upward movement. Altcoins futures open interest reach $60 bn record high before $2.6 bn wipeout happen—na tenth biggest drop on record. Ethereum open interest dominance climb reach fourth-highest level, with perpetual futures trading share jump to 67% record. Historical cycle pattern talk say Bitcoin peaks dey usually happen 2–3 months later for four-year bull run, meaning current “bull tail” phase never finish yet. Traders suppose prepare for more market wahala wey leverage futures bring, watch open interest changes, and sabi the crypto cycle time wey still dey left when dem dey plan their moves.
Bearish
Glassnode report talk say volatility wey derivatives dey cause plus high futures open interest, followed by quick unwinds, dey usually happen before price correction. The recent $2.6 bn drop inside open interest na one of the biggest shrinkage for history, showing say leveraged traders dey close their position as dem dey tak profit. Constant crypto selling pressure and the way futures trading dey supass spot trading show say market dey favor short-term speculators. For past, similar increase for derivative activity don lead to cyclical pullbacks and more liquidation events. Even though the bigger four-year bull cycle fit still dey run, the immediate effect na bearish. Traders suppose shine eye make e no go down more as leveraged positions dey reduce and profit-taking still dey go on, fit trigger wave of stop-loss liquidations before any stable rebound.