Bitcoin derivatives reset as leverage cools amid s
#World Cup Predictions: 100,000 USDT Daily #BTC Prophet: 20-Day 380 Million HTX Challenge #HTX Creation Challenge — Post and Win 1,500U 💥
Bitcoin derivatives reset as leverage cools amid subdued spot demand
Bitcoin's recent correction wiped out nearly 20% of futures open interest, signaling a broad leverage reset.
Glassnode stated that subdued spot activity and growing options hedging point to cautious sentiment despite stable futures positioning.
Strategy bought 520 BTC, with JAN3 CEO Samson Mow defending the company's new STRC preferred stock design.
Bitcoin's recent correction has reduced leverage across derivatives markets, creating a healthier structure amid weak spot trading activity, according to a report from CryptoQuant on Monday.
The report stated that Bitcoin's decline over the past few weeks appears to reflect a broad futures market reset rather than the buildup of new speculative positions.
"BTC price is down, but open interest is down even more. This suggests the futures market has gone through a meaningful leverage reset,” CryptoQuant analyst Woominkyu wrote.
Total Bitcoin open interest across exchanges fell from $25.96 billion on June 1 to $20.89 billion by June 21, a 19.5% decline, while Bitcoin's price dropped about 11.4% over the same period.
"This is important because price falling together with OI usually means existing futures positions are being closed, liquidated, or reduced," the report added.
The firm added that although the reset does not guarantee an immediate recovery, it leaves the market in a healthier position than one dominated by excessive leverage.
Glassnode highlighted a similar trend in its Weekly Market Pulse. The analytics firm noted that Bitcoin's futures open interest currently stands at $31.2 billion, comfortably within its historical statistical range. This suggests that traders are neither aggressively increasing leverage nor rapidly unwinding positions.
Options activity, however, has continued to grow.
Усі коментарі0НовіПопулярно