BIT: Bitcoin leverage liquidation, market enters a phase of direction selection

SmartContractAuditor · 2026-04-08T03:51:43+00:00

The open interest of Bitcoin futures contracts has decreased significantly, indicating a clear deleveraging trend in the market. Funding rate fluctuations have intensified, with long and short forces switching rapidly. Currently, leverage levels are low, which may amplify the impact of small-scale capital inflows on prices. Recently, there have been no large-scale liquidations, and the position structure remains stable. In the short term, Bitcoin lacks a clear trend and is sensitive to market changes.

SmartContractAuditor

2026-04-08 03:51:43

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Odaily Planet Daily reports: The open interest in Bitcoin futures has fallen from about $42 billion in October 2025 to around $21 billion currently, indicating that the market has undergone a significant deleveraging cycle.

At the same time, the funding rate has recently swung sharply within the range of -12% to +7%, no longer staying at the previously consistently positive level, reflecting that bullish and bearish forces are switching quickly. Analysts point out that the current leverage level in the market is low, and even small inflows of capital may amplify the impact on price.

In addition, there has not been a large-scale liquidation recently. The most recent concentrated wave of liquidations occurred in early February, and the current position structure remains relatively stable. In the short term, Bitcoin has not yet formed a clear trend; the market is relatively sensitive to changes in funding flows and macro events.

BTC4.5%

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