$BTC Open interest reached a maximum
Liquidations may become even more extensive in the coming days. Open interest (OI), which reflects the total value of futures contracts, reached a new historical maximum of over $177 billion in July. OI for Bitcoin reached $78.6 billion — another record.
New highs indicate that the market has become very sensitive. High OI suggests that many traders are using significant leverage. Even small fluctuations in the price of Bitcoin can lead to substantial losses.
