Matrixport: Leveraged Positions in Bitcoin and Ethereum Are Being Rapidly Liquidated

ChainCatcher news, Matrixport released a market opinion stating that the current market is in a clear deleveraging phase, and the risk of maintaining high positions is rising. The open interest of Ethereum has dropped by 50%, indicating that leveraged funds are rapidly contracting. Against this backdrop, overall risk appetite is under pressure. Bitcoin is approaching the key support level of $93,000, and liquidity in this range may weaken further in the short term.

The previously crowded long positions in futures during the fourth quarter have basically been cleared out, and the pressure on the leverage side has been released in stages. The next focus should be on the current relatively concentrated ETF holdings; if the market continues to weaken, this portion of funds may see further reduction in positions, which could bring new liquidity pressure.