Speaking of risks, there are two sets of data that need to be taken seriously, namely the unsettled contract data of BTC and ETH. It can be clearly seen that with the rise of prices, both BTC and ETH have experienced a significant increase in unsettled contracts. Previously, BTC did not have many outstanding contracts due to investors' unclear direction, but now, especially in the past month, there has been a clear increase in outstanding contracts. ETH, on the other hand, has been even more evident, recently breaking through the highest point of an open contract in the past year. The increase in contracts indicates that investors have increased their use of leverage in the game. Although market activity is increasing, the rise in unsettled contracts often corresponds to an increase in potential volatility. Because the more leveraged funds enter, the more frequent the sharp liquidation of the market in the long short direction, which is prone to short-term sharp rises and falls. From these two sets of data, BTC appears to be more driven by spot trading, with investors leaning towards long-term spot holdings and steady buying. Its leverage attribute is relatively low, although it has improved significantly. For ETH, it is mainly driven by futures and ETF funds entering the market, and funds are more willing to bet through leverage and derivatives, reflecting short-term gaming and FOMO sentiment. This article is sponsored by Bitget | @ Bitgetzh