BTC rises as open interest falls to lowest since March, easing liquidation risk

BTC-denominated open interest has fallen about 20% to its lowest level since March even as Bitcoin has risen 35% from its August low, according to a CoinNess analysis of Glassnode data. Glassnode said Bitcoin is climbing with less leverage in the market, which could relatively reduce the risk of a sharp drop driven by large-scale leveraged liquidations.