Bitcoin futures open interest collapses amid short squeeze
Open interest in crypto-margined Bitcoin futures has collapsed to approximately Bitcoin Open Interest Collapses to 12%.
, down from near-total dominance of the market, according to Decrypt. The decline coincides with a sharp rally in Bitcoin’s price that has squeezed leveraged short positions. CoinDesk characterized the move as a short squeeze of historic proportions, though leveraged traders continue to place substantial new bets despite the reduction in overall open interest.
This article is for information only and is not financial advice.
What the market did
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