WhaleWire Founder: Excessive Leverage in the Current Crypto Market May Lead to an Inevitable Major Crash Risk

According to a report by Jinse Finance, WhaleWire founder Jacob King stated on social media that although Bitcoin has only dropped by 1%, the market has seen over $360 million in liquidations in the past 24 hours, with more than $100 million liquidated in just the last 60 minutes. Jacob King noted, "This phenomenon highlights the excessively high leverage in the market as it approaches historical highs. When investors rush to exit at the same time, the market could face the inevitable risk of a major crash."