BRN Analyst Warns of Impending Volatility

Timothy Misir, head of research at BRN, has cautioned about the risks associated with record leverage in altcoins, as reported by The Block.

The expert noted that open interest (OI) in leading alternatives to Bitcoin has reached an all-time high due to an influx of speculative capital. Meanwhile, implied volatility remains low. According to him, such a combination often precedes sharp price swings.

Glassnode analysts confirmed that OI in altcoins has hit a record $47 billion. This figure enhances both the potential for market growth and decline.

Open interest across major #altcoins has surged to an all-time high of $47B. This concentration of leverage elevates reflexivity, amplifying both upside and downside price reactions and increasing fragility in market structure. pic.twitter.com/GwJp8dsjBp

— glassnode (@glassnode) August 13, 2025

Open interest in Ethereum options has also approached annual highs at $16.1 billion.

Spot ETFs have driven Ethereum’s rise to $4700. The net inflow over the past day amounted to $729 million, the second-largest daily figure.

For Bitcoin, the key support level is $120,000 — the cost basis for short-term holders, Misir noted. He added that investors who recently acquired the asset did not sell during the recent drop to $112,000.

According to the analyst, stabilizing the price around $120,000 creates conditions for a new rally above the all-time high of $124,128. The next target could be the $144,000 level.

At the time of writing, the market is experiencing a correction — Bitcoin is already trading around $118,720.

Earlier, inflows into Ethereum ETFs exceeded the issuance of new coins following The Merge. Spot ETFs in the US attracted $2.45 billion over the month, equivalent to approximately 500,000 ETH.