Following recent U.S. inflation data showing easing pressures, analysts are closely watching the use of leverage in the cryptocurrency market. Open interest (OI) across major altcoins has reached a record $47 billion, according to Glassnode, indicating heightened leverage and potential for amplified price swings both up and down. Meanwhile, Wednesday saw significant net inflows into U.S. spot Ethereum ETFs, driving ETH’s value closer to its all-time high. Bitcoin ETF inflows remained relatively modest. `, The surge in risk appetite, fueled by macroeconomic factors and Wall Street fund inflows, has seen Bitcoin surpass $120,000 and Ethereum break the $4,700 threshold, according to BRN Research Director Timothy Misir. However, this rise comes with a warning: record-high altcoin OI and low implied volatility suggest a possibility of sharp price movements at resistance levels if prices break through these thresholds in either direction.