Summary
- The Bitcoin perpetual futures open interest decreased by about $11 billion in one day.
- It said the decline was caused by the sharp drop and mass liquidations following President Donald Trump's remark about imposing an additional 100% tariff on China.
- It said this is thought to have resulted in the rapid unwinding of leveraged positions.
The open interest (Open Interest) in the Bitcoin (BTC) perpetual futures market fell by nearly $11 billion in one day.
On the 11th (local time), Julio Moreno, head of research at CryptoQuant, said on X, "Over the past 24 hours, the open interest in the Bitcoin perpetual futures market decreased by about $11 billion."
This is believed to be due to the rapid unwinding of leveraged positions following the sharp drop and mass liquidations that occurred after U.S. President Donald Trump said he would impose an additional 100% tariff on China.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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