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OI priced in dollars crashed hard, but the coin denomination didn’t move—this leverage structure is kind of dangerous.
Bitcoin Open Interest Delta (365-day) just recorded the second largest decline in history on a USD basis.
However, when measured in coins across 30 exchanges, the delta remains positive.
This suggests OI is still elevated relative to current prices — setting the stage for potential massive liquidations on the next strong move.
#PredictWorldCup🇳🇴vs🏴