According to CoinMeta, glassnode indicates that although the crypto market has seen a significant correction since the leverage levels peaked at the beginning of October, the leverage risks in the altcoin market have not been fully alleviated. Currently, over 40% of large-cap altcoins still have leverage levels close to their annual highs, and among mid-cap tokens, the proportion with high leverage has reached a new high for the year. glassnode warns that the price decline has not been accompanied by a sufficient liquidation of leveraged positions. If the market continues to weaken, a large number of leveraged long positions may face the risk of forced liquidation, which could further exacerbate the market downturn.