(BTC) futures open interest just had its most extensive daily reduction in five months. Yesterday’s 11% drop move caused more liquidations than May 9 when BTC plunged 12.5% to $8,600.
Skew data shows total open interest down by $653 million, reaching $4 billion on Sept. 3. That figure includes perpetual (inverse swaps) and futures with set expiry on OKEx, CME, Binance, and remaining derivatives exchanges.
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