Bitcoin OI falls by 13,600 BTC in 24 hours as deleveraging continues

Bitcoin open interest fell by 13,600 BTC over the past 24 hours while price volatility remained limited during the same period, on-chain analyst Axel Adler Jr. said. Adler said the drop in OI without a decline in price indicates active leverage reduction in the market, and added that such deleveraging lowers the risk of cascading liquidations.