Bitcoin leverage hits yearly high, yet THESE risks could derail BTC’s rally

• Bitcoin’s lever effect hit the annual high signaling of the massive risk of eating and “greed”.
• Can bulls maintain the momentum with an unrealized profit of $ 1.2 trillion?

Bitcoins [BTC] It remained only 4% below a historically maximum of $ 112,000, but speculative activity increased to annual extremes.

The latest data pointed to a sharp increase in risky behavior, although the market detained a breath near key resistance.

Bitcoin lever effect culminates in an annual range

According to Cryptoquant, BTC An estimated ratio of lever effect It has jumped to 0.27 on all stock exchanges, which is the highest reading in the last 12 months.

While it showed an aggressive risk of appetite and bull outlook There is also an objection among traders: liquidation cascades. With a high lever effect or borrowed money in trading, wild prices can smooth out positions in a flash.

Is the market overheated? Not yet!

Despite the high lever effect, the market was not sufficiently foamy or overheated to guarantee panic, for financing the rate data.

Coinglass data has shown that the BTC funding rate is around 2% APR, which is far from overheated 50%+ levels observed at the end of 2024.

In short, the current level of the lever effect is still healthy for the BTC to push above, provided other factors remain positive.

Meanwhile, in the case of hunting, the main key levels that were monitored in the near future were $ 103,000 and $ 111,000. These were the main pools of liquidity and potential price magnets.

In fact, about $ 8 billion in the value of lever bulls around $ 103,000 could be endangered if a brief correction took advantage of the level.

Profit -building pressure

Another potential pressure on the side of the sale to be considered is the high level of unrealized profit at the current BTC value.

According to Glassnode, the current profitability He competed with the Q4 2024 -rizic factor if the holders start to lock their profits.

“The overall unrealized profit is an estimated 1.2T, which emphasizes the substantial evaluation of the value experienced by investors of bitcoins, but also an incentive for potential pressure on the side of the sale that may occur if the sentiment changes.”

Other other short -term macros heads include Trump tariff term 9 July and the recently approved reconciliation Act.

Especially Coinbase analysts projected that the US cash register could borrow money after the bill increased US debt to $ 5 trillion.

Such loans would release the liquidity of the dollar in the US dollar and negatively affect the risk of assets such as BTC.

With the current ‘greed level“On the market, this acidic sentiment could speed up the scenario for making a shared Glassnode.