Bitcoin Sees Deleveraging as Market Adjusts to Leverage Peaks

Crypto markets have experienced a significant deleveraging event, particularly on Binance, amidst an overall market correction. Analysis by CryptoQuant reveals that leverage peaked at $46.5 billion in 2025, nearly three times higher than in 2021’s record of $16.5 billion. This massive increase was driven largely by trading activity concentrated on the platform, which has seen a dramatic drop in open interest since early October.