Bitcoin weekend blip wiped out $250M in over leveraged long traders while open interest weakens
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A weekend price blip liquidated roughly $250M of over‑leveraged long positions in Bitcoin. Open interest has weakened following those liquidations, indicating a pullback in leveraged speculative exposure. The reduced OI lowers the immediate risk of large squeeze-driven rallies or cascading liquidations but also suggests weaker trader conviction and may mute near‑term upside momentum for Bitcoin.
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