Bitcoin open interest contracts decreased by 31% to approximately $65 billion since October, according to CryptoQuant data, indicating market deleveraging. Deribit’s $100,000 strike options have a notional value of $2.2 billion. Spot BTC has risen nearly 10% this year. This can reduce liquidation risk or pave the way for a rebound. Watch OI and price. #Bitcoin $BTC
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Bitcoin open interest contracts decreased by 31% to approximately $65 billion since October, according to CryptoQuant data, indicating market deleveraging. Deribit’s $100,000 strike options have a notional value of $2.2 billion. Spot BTC has risen nearly 10% this year. This can reduce liquidation risk or pave the way for a rebound. Watch OI and price. #Bitcoin $BTC