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

Key Points

1. Bitcoin's Estimated Leverage Ratio across all exchanges reached 0.27, the highest in the past 12 months.

2. BTC's Funding Rate is around 2% APR, significantly lower than the overheated 50%+ levels seen in late 2024, indicating the market is not yet frothy.

3. Key resistance levels for BTC in the near term are $103K and $111K, with $8 billion worth of leveraged bulls around $103K.

4. The total unrealized profit in Bitcoin stands at an estimated $1.2 trillion, similar to Q4 2024 levels, which could pose a risk if holders start locking in gains.