It’s a sign that bullish long positions are likely getting crowded, and a slight price pullback could see over leveraged bulls capitulate, closing their longs and inadvertently exacerbating downside pressures in the market. Leverage washouts have been a common phenomenon in previous bull markets, often leading to a sudden double-digit percentage price drops.
Bitcoin Market Euphoric, Faces Risk of Pullbacks and Leverage Washouts, Trading Firm Warns as BTC Price Nears $90K
