#BTC is rising in a low-leverage environment.
The price is up 35% from the August low, but open interest denominated in BTC has fallen by nearly 20% over the same period, and is now at its lowest level since March.
This suggests that this rally is less dependent on leverage, and the risk of liquidation shocks is relatively lower as well.
The price is up 35% from the August low, but open interest denominated in BTC has fallen by nearly 20% over the same period, and is now at its lowest level since March.
This suggests that this rally is less dependent on leverage, and the risk of liquidation shocks is relatively lower as well.
