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      Bitcoin Experiences Largest Deleveraging Event Since 2023

      Bitcoin's futures market has undergone its most significant deleveraging phase since 2023, as reported by CryptoQuant analyst Darkfost. This event saw Binance's Bitcoin futures open interest briefly dip below its 180-day moving average, marking it as the largest liquidation event in the current market cycle. The deleveraging was primarily driven by forced liquidations and the unwinding of leveraged positions.

      Despite the sharp decline, Binance's Bitcoin open interest remains substantial at $9.6 billion, which is still above the 180-day moving average of $8.3 billion. Binance accounts for approximately 37% of total Bitcoin open interest across all exchanges, highlighting its dominance in the market.

      Following the deleveraging, traders have quickly re-entered the market, pushing open interest back above the 180-day average and contributing to a price rebound. Current open interest levels on Binance are higher than those recorded during the May 2026 recovery, when Bitcoin's price surged toward $82,000. This pattern reflects a historical trend where deleveraging events can lead to healthier market conditions for sustained price increases.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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