On Bonance, we've hit a new all-time high for futures #ETH .
This isn't a bear or bull signal. It means there's a massive influx of familiar funds into the market, and the number of positions has also surged significantly.
From my experience, such record levels of OI often lead to sharp squeezes (both long and short squeezes). The market becomes very sensitive to any strong moves, and liquidations amplify the impulses.
I'm keeping this factor in mind - high probability of a sharp move in the near future.
Watch out!
ETHUSDT
Perp
1,595.83
+2.42%