From the data of open contracts, in the past week, $BTC and $ETH are still on the path of deleveraging, but due to the significant losses on October 11, the recent week has seen a less noticeable clearing of leverage.

Currently, BTC has reached the lowest point of open contracts in the past year, and the leverage should be quite low now, while ETH has reduced its leverage from one-third to half.

From a historical data perspective, the lower the leverage, the more funds tend to flow in, which often helps in driving up prices.

This article is sponsored by #Bitget ｜ @Bitget_zh

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