Bitcoin and Ethereum witnessed a major options expiry event on Deribit as contracts worth around $2.2 billion expired today.
Similar declines were also observed on Deribit, Bitfinex, and HTX, confirming a market-wide deleveraging trend.
Historically, very low open interest signals a market reset. When excess leverage is cleared, prices often stabilize, and this phase can lead to consolidation or even a bullish rebound if buying interest returns.
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