CryptoQuant Analyst: Bitcoin Sees Sharpest Deleveraging Phase Since 2023 CryptoQuant analyst Darkfost said Bitcoin has recently experienced…
CryptoQuant Analyst: Bitcoin Sees Sharpest Deleveraging Phase Since 2023
CryptoQuant analyst Darkfost said Bitcoin has recently experienced its sharpest deleveraging phase since 2023, with Binance’s open interest briefly falling below its 180-day average. Binance’s current open interest stands at approximately $9.6 billion, above the 180-day average of $8.3 billion and accounting for about 37% of Bitcoin’s total open interest. The current cycle has seen one of the largest liquidation events in Bitcoin’s history. Darkfost said traders appear to have returned and are fueling BTC’s rebound, while warning that excessive leverage could trigger another severe deleveraging episode.