$5K ETH: Mission Impossible? Analysts Warn Binance Leverage Could Spark Sharp Correction

Ethereum blasted past its all-time high mark set all the way back in November 2021 after climbing to nearly $4,950 on Sunday. The leading altcoin has since experienced a minor pullback.

But traders may need to brace for turbulence as Binance’s Estimated Leverage Ratio (ELR) on ETH has surged to record highs, which indicates extreme risk-taking in the market.