This is the most insane chart right now.

What we have pictured is:

1- Bitcoin price and each break higher marked

2- The aggregated premium rate when the price breaks higher

Firstly, aggregated premium is the collective value of CEXs and whether short are paying longs more, or longs are paying shorts more.

When its red, this signifies there is a more bearish sentiment and shorts are favoured, and vice versa for green.

The interesting fact here is that this is the only breakout btc has had within this bull run where market participants are still actively bearish and shorting.

This is incredibly bullish because, regardless as to how a breakout starts, it always end with heavily green premium. The more green candles the more longs.

So what does this tell us?

It tells us that this breakout has a very long way to push before it reaches euphoric levels.

Premium being red shows us the disbelief in this pump, which is absolutely ideal for higher.

LTF, dips will always happen...

But HTF, it is undeniable where we are in the cycle...

Right before the final parabola phase.

With almost everyone in disbelief.

Perfect.