CryptoQuant says Bitcoin saw sharp deleveraging since 2023 as Binance open interest briefly dipped
CryptoQuant analyst Darkfost said Bitcoin has recently gone through its sharpest deleveraging phase since 2023, with Binance open interest briefly falling below its 180-day average before recovering [1] [2] [3] [4].
Darkfost said Binance’s open interest is approximately $9.6 billion, compared with an 180-day average of about $8.3 billion, and that Binance open interest accounts for about 37% of Bitcoin’s total open interest [1] [4].
Reporting on Darkfost’s analysis, outlets said traders appeared to return after the deleveraging and that leverage-related volatility risk remains if leverage builds excessively [1] [2] [4].
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- 1CryptoQuant Analyst: Bitcoin Sees Sharpest Deleveraging Phase Since 2023Wu Blockchain• Sep 7, 2026
- 2Bitcoin just went through its sharpest deleveraging since 2023, and traders are already piling back inCrypto Briefing• Sep 7, 2026
- 3Bitcoin just faced largest deleveraging since 2023Finbold• Sep 7, 2026
- 4Bitcoin Sees Sharpest Deleveraging Since 2023, Says CryptoQuantCoinoMedia• Sep 7, 2026
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