The total open interest leverage across the entire network for the second pancake has already exceeded $25.7 billion.

This number itself indicates one thing:
The market does not move in a straight line.
The more leverage there is, the greater the volatility.
Because volatility is actually the most stable source of profit for institutions.
Repeated tugging, repeated fluctuations—
It's not about the direction,
It's about the chips.
Wearing down patience,
Breaking down emotions,
Eroding positions,
To shake you out of your holdings.
When most people no longer want to watch the market,
It often only takes a few days for the market to return to high levels.
Once the price returns to a high level,
Retail investors start to doubt—
Is this a bull run,
Or a short squeeze?
In this kind of hesitation,
The market
Will step onto a higher stage.
Then,
Newcomers rush in,
Old chips exit.
This has never been about the trend,
It's a cycle.
Newcomers fill old gaps.
Wall Street has never had anything new.
#BTC #ETH JS Big Shark