Sa sometimes, leverage markets can wipe out profits made over hours or weeks. On October 24, as Bitcoin dropped below $80,000, over $436 million in crypto positions were liquidated within just 4 hours, with approximately $404 million coming from long positions. In such a market, opening short positions immediately when prices fall, or long positions right after they rise, is not trading to me—it’s chasing the market. I monitor price alongside OI and funding rates because the real issue isn’t predicting direction, but identifying where excessive leverage has accumulated. #Leverage
