Bitcoin Open Interest Plunges 25% as Mass Liquidations Reset Crypto Derivatives Markets

TLDR: Bitcoin open interest dropped 25% to $23.2B, hitting its lowest level since early April in just four days. Ethereum open interest fell 13% to $9.8B, reaching levels not recorded since March amid the selloff. Forced liquidations of leveraged longs added extra selling pressure, accelerating the market’s rapid price decline. Declining open interest at multi-month [...]

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