Bitcoin leverage hits 5-year high – How ONE move could trigger pullback

Key Points

1. Bitcoin's Estimated Leverage Ratio (ELR) has reached a 5-year high, indicating heightened volatility risk.

2. Miners' Position Index (MPI) dropped by 118%, suggesting reduced selling pressure from miners.

3. Large Holders' Netflow surged 234.40% in a week, indicating strong whale activity that could drive short-term rallies.

4. The Long/Short Ratio shows 51.82% shorts vs. 48.18% longs, reflecting slight bearish sentiment among traders.

5. Liquidation clusters near $119,600 could act as a price magnet, increasing the risk of sharp market moves.