Traders bet heavily on nine-digit bitcoin call options, exacerbating liquidation risks

Traders are using leverage to push Bitcoin to all-time highs, creating a high-risk environment where price reversals may trigger derivatives to close positions. Market analyst Skew warned that a whale investor who plans to hold a nine-digit long position should wait for spot purchases to avoid "toxic" inflows. Meanwhile, shorts also used leverage, and a trader faced an unrealized loss of $7.5 million on a short position of $234 million. Kingfisher Finance data shows that there is a significant liquidation risk between $113,300 and $114,500 and may fall to the $110,000 support level. With low volatility, the price of Bitcoin remains around $115,000.