In brief Bitcoin open interest dropped by 8,500 BTC in under 48 hours, a $700 million unwind of leveraged positions. One crypto whale saw profits plummet by 93% to $4M, leaving them sitting on $37M in unrealized losses on long positions. An analyst says the sell-off was driven by leverage, unlike October's spot-driven liquidation event....

In brief Bitcoin open interest dropped by 8,500 BTC in under 48 hours, a $700 million unwind of leveraged positions. One crypto whale saw profits plummet by 93% to $4M, leaving them sitting on $37M in unrealized losses on long positions. An analyst says the sell-off was driven by leverage, unlike October's spot-driven liquidation event....

Bitcoin has crashed more than 30% from its October peak. ETF selling hit $3.8 billion with nine days left in November, approaching February liquidations. The macro picture has turned hostile after Fed governors signal no December cut. Bitcoin plunged to $81,900 on Friday, wiping out Thursday’s bounce and further extending a month-long selloff that has...