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交易王

06/23 15:03

Bitcoin's 19.5% Open Interest Drop Points to Heal

#World Cup Predictions: 100,000 USDT Daily #2026 World Cup Posting Challenge on HTX Square #HTXCommunity4thAnniversary Bitcoin's 19.5% Open Interest Drop Points to Healthier BTC Market source-logo Leverage Reset Shifts Focus to Spot Demand Bitcoin's futures market has undergone a sharp leverage reset. Traders are now watching whether the next move will be driven by spot demand rather than derivatives speculation. Data shared by Cryptoquant on June 22 showed total $BTC Open Interest across exchanges falling from $26.0 billion to $20.89 billion during June. The drop in futures exposure outpaced the decline in price. Bitcoin fell from roughly $71,200 at the start of the month to $63,234 by June 21, down 11.4%, while Open Interest contracted 19.5%, indicating futures exposure was reduced more aggressively than the decline in $BTC price. Referring to the decline in futures positioning and the reduction in leveraged exposure across the market, the analyst stated: "So far, the data shows that excess leverage has been reduced." Traders often track the relationship between price and Open Interest to assess market structure. During the first week of June, $BTC fell to a local low of $60,900 on June 6 while Open Interest dropped from $26.0 billion to about $22.4 billion, a pattern consistent with liquidations and position reductions rather than a buildup of new leveraged positions.
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