“Now is a bad time to take paper bets on BTC,” said technical analyst Willie Wu on June 2.
He said it was “an open season to hunt the liquidation due to high levels of betting,” before adding that Bitcoin was “waiting to purify the bets before the next swing at all.”
Paper bets are generally derivatives of encryption such as future contracts, options and permanent contracts that allow speculators to bet on the price of the price without keeping the original. Wu said that the instant bitcoin prices are difficult to climb with many “casino sheikhs” on board.
Now is a bad time to take paper bets on BTC.
It is an open season for hunting liquidation due to high levels of betting.
BTC awaits the purification of bets before the next swing at all.
Chart: paper bets on BTC, difficult to move with a lot of Hitchhikers casino on board. pic.twitter.com/bj9ikjdn8q
Will Wu (@Wonomic) June 2, 2025
Take advantage of the imminent flow
Most of the derivative gamblers use profitable trading, which tends to rise in the market temperature and create more fluctuations, especially when filtering.
When asked about the $ 100 million liquidation of excessive whale whale dealer James Wayne last week, Wu explained that the purchase pressure was low last week, which means that “whales can pay things around.”
He said before a warning: “In neutral environments, it is easy to transfer the price, especially weekends and summer months.”
“Now add incentives to earn money through liquidation, it’s the perfect preparation for the filter now.”
The open interest Bitcoin (OI), or the number of open future contracts that have not yet settled, reached its highest level at 80 billion dollars on May 23, According to To Coinglass. It has since decreased to 72 billion dollars, but is still high, indicating a high level of “paper bets” or the financial lever in the market.
When OI rises, it indicates that the tremendous benefit positions have arisen with many speculators who carry large sites with borrowed money.
When the instant price of BTC moves against these excessive situations, merchants are liquidated by force. These flows can create a successive effect and amplifying the pressure pressure, which may cause a sharp decrease in prices and fluctuations.
BTC Price Outlook
Bitcoin prices rose marginally a day, as the highest level per day reached 106,450 dollars before declining to about $ 10,350 during Tuesday morning in Asia.
Since its decrease from the rise of May 22 at all, the origin has been unifying the current levels during the past few days. It looks very strong on the long -term view, but he may see more fluctuations if “Hitchhikers” is filtered in Woo.
Meanwhile, the M2 Money show has reached the highest level ever, a good news of assets of risk like Crypto.
M2 Money Supply Thists is absolutely new pic.twitter.com/yofxmlrqjy
– Barchaart (@barchart) June 3, 2025
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