Summary
- It was reported that "the Bitcoin rebound was led by futures market leverage."
- It was stated that "the open interest size exceeded $32 billion."
- It was reported that "caution is needed due to volatility from the surge in leverage positions."
An analysis has emerged that the rebound of Bitcoin (BTC) was led by perpetual futures leverage positions.
On the 24th (local time), an IT Tech CryptoQuant contributor stated on X, "This Bitcoin rebound was led by leverage positions in the futures market," adding, "While the Bitcoin price surpassed $87,500, the open interest (OI) size exceeded $32 billion."
He cautioned about the volatility due to the surge in open interest. IT Tech added, "Price increases led by leverage have high volatility, increasing the likelihood of forced liquidation," and "If the buying pressure weakens, Bitcoin prices may fall again due to the chain liquidation of leverage positions."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
