Analyst says rising Binance BTC open interest signals end to deleveraging

The long-term deleveraging phase in the Bitcoin futures market is ending as Open Interest (OI) has surpassed its 180-day moving average, according to cryptocurrency analyst Darkfost. In a post on X, the analyst explained that a deleveraging phase, where investors close positions and exit the market, is typically marked by OI falling below this key moving average. This trend, which had been in place since Oct. 10 of last year, is now reversing. Darkfost noted that Open Interest on Binance has increased to approximately $8.96 billion from a low of around $6.4 billion in March.