Sep 15, 2025
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Altcoin Leverage Surges While Bitcoin Positions Remain Unchanged
Crypto analyst Maartunn has highlighted a risky market pattern: significant speculative leverage is entering altcoins, while Bitcoin's derivatives remain stable. This situation has historical precedence and suggests potential volatility.
- The divergence between high altcoin open interest and stagnant Bitcoin positions resembles the prelude to the late-2024 market downturn.
- Maartunn warns of a possible sharp decline, referencing a past 30% drop in Bitcoin, followed by a prolonged period of low activity and momentum loss.
- He uses the metaphor of "musical chairs" to describe how sudden market changes can lead to rapid de-risking and liquidations.
- This assessment signals situational risk rather than predicting an imminent crash.
- The key concern is the unsustainable gap between exuberant altcoin leverage and steady Bitcoin positioning.
At the time of reporting, the total crypto market cap was $4.0 trillion.
