Bitcoin Open Interest Plummets, Signaling Market Shift

Bitcoin’s open interest has experienced a dramatic decline of 1.3 million BTC in the current cycle, signaling significant market shifts and potential for future stability. The drop is primarily attributed to actions from Binance, resulting in a significant reduction in overall open interest. This sharp decrease follows weeks of price correction and increasing liquidations across exchanges, leading to traders reducing their exposure and closing positions. 📈 📉