Bitcoin’s recent $12B open interest wipeout was essential, says analyst 📈
Bitcoin's recent $12 billion open interest decline could be a catalyst for future growth, according to analysts. This event is seen as a crucial market reset that could sustain bullish trends.
DarkFost, a CryptoQuant contributor, noted that past deleveraging events have historically led to attractive short and medium-term opportunities.
Data from CoinGlass shows Bitcoin's open interest fell 19% from $61.42 billion to $49.71 billion between Feb. 20 and March 4.
The drop was influenced by market volatility due to concerns over U.S. tariffs and interest rates.
Despite market panic, Bitcoin's open interest has shown a recent uptick, suggesting stabilized investor confidence.
Source: cointelegraph.com ↗
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