Yesterday, with the reminder of managing positions well in long positions, one can definitely hold with peace of mind.
Yesterday, I looked at Ethereum's contract open interest, which exceeded 50 billion, mainly driven by institutional bullishness and retail bullishness. The figure of 50 billion gives me chills.
The last time such an extreme position appeared, it didn't take two days for a black swan liquidation wave to hit; now the situation is very delicate.
The market loves to stir things up when everyone feels 'safe.' With the current position structure, any minor pullback can trigger a chain of liquidations.
Don't rush to open a short position; wait for the market to establish its own direction—either a breakout will confirm the trend or suddenly trap aggressive bulls.
Record high open interest often means a trend change is imminent. This position is crucial; if it fails to break through, it will form a double top, and if it breaks through, it may also be a false breakout.
Having a heavy position is a more cautious approach; waiting for the market to reveal itself is better than blindly betting.
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