Bitcoin open interest decreased by 13,600 BTC over 24 hours, with market leverage levels declining.

According to data from on-chain analyst Axel Adler Jr., Bitcoin open interest (OI) decreased by approximately 13,600 BTC over the past 24 hours, while the BTC price remained largely unchanged during the same period. He noted that in the absence of a significant price decline, the drop in open interest indicates that the market is proactively deleveraging, which helps mitigate the risk of concentrated liquidations of high-leverage positions triggering cascading liquidations.