Bitcoin open interest is sitting at $47.46B.
That’s 753.73K BTC in active contracts across exchanges.
OI is down 1.14% over the last 24H as BTC continues to trade around $63K.
Leverage is cooling, but it hasn't been flushed out.
That matters.
If $BTC breaks higher, there is still plenty of positioning that can fuel the move.
If support breaks, the same leverage becomes ammunition for another liquidation cascade.
For now, I’m watching $63K and $64K.
Price decides which side gets punished next.
That’s 753.73K BTC in active contracts across exchanges.
OI is down 1.14% over the last 24H as BTC continues to trade around $63K.
Leverage is cooling, but it hasn't been flushed out.
That matters.
If $BTC breaks higher, there is still plenty of positioning that can fuel the move.
If support breaks, the same leverage becomes ammunition for another liquidation cascade.
For now, I’m watching $63K and $64K.
Price decides which side gets punished next.