Bitcoin Faces Panic Sell-off as Coin-Margined Contract Open Interest Nears Historical Highs

06/03 08:21

On June 3, Bitcoin experienced a panic sell-off this week, influenced by the Strategy's selling pressure and the diversion of AI funds, dropping over 10% from a peak of $74,000 and currently stabilizing at a low range for the year. Notably, during this period, the open interest in Bitcoin coin-margined contracts has risen against the trend, currently reported at 784,400 contracts, nearing historical highs. In response to this phenomenon, renowned trader Killa, who predicted the peak of this bull market in May 2025, stated that this often indicates a critical top or bottom, warranting close attention.
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