Glassnode: BTC open interest drops to lowest since March, rally less reliant on leverage

Odaily: Glassnode posted on X platform that Bitcoin (BTC) is rising with lower leverage levels. Since the August low, the BTC price has increased by 35%, while BTC-denominated open interest (OI) has declined by nearly 20% over the same period, currently at its lowest level since March. Glassnode believes this means the current rally may be less vulnerable to leverage liquidation shocks.