Bitcoin Experiences Most Significant Deleveraging Since 2023

CryptoQuant analyst Darkfost reported that Bitcoin has undergone its most intense deleveraging since 2023. Open Interest (OI) on Binance dropped significantly below its 180-day moving average following major liquidations. Despite the adjustment, Binance's OI remains at $9.6 billion, representing 37% of the total market, as traders re-enter the market to drive a rebound. Analysts warn that high leverage levels could trigger further volatility.