@tobywhittier
Over 180,000 traders faced liquidation in the rebound from Oct 10's $19B wipeout—mostly longs—as BTC surged to $114K, per Coinglass data.
Leverage has reset healthily: BTC futures open interest plunged 25% to $70B from $94B, erasing speculative excess akin to July levels.
bloomberg.com +1
Analysts view this deleveraging as bullish, paving way for stable rallies sans cascade risks, with macro drivers intact.
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