Bitcoin sees sharpest deleveraging since 2023: CryptoQuant

This deleveraging event stands out for its scale, marking the most aggressive flush of leveraged positions in over two years. The fact that Binance's open interest remains above its historical average even after the drop suggests the market hasn't fully reset, leaving lingering fragility. The rebound driven by fresh trader entry is notable, but the persistent high leverage relative to the average raises the question of whether positioning has truly stabilized or simply reset for another potential squeeze. Watching whether open interest consolidates near or falls back below that moving average will indicate if the risk of repeat liquidations has actually diminished.