Wu Blockchain reports that CryptoQuant analyst Darkfost shared a post stating that Bitcoin recently experienced the most intense deleveraging phase since 2023, with Binance's open interest briefly dropping below the 180-day moving average. Currently, Binance's open interest is around $9.6 billion, higher than the 180-day average of $8.3 billion, accounting for approximately 37% of Bitcoin's total open interest. This cycle witnessed one of the largest liquidation events in Bitcoin's history. Although this pullback has put pressure on traders, they seem to have re-entered the market, driving a BTC rebound. Darkfost warns that excessive market leverage could trigger another round of intense deleveraging. https://(wublock123.com)/news/cryptoquant-analyst-bitcoin-largest-deleveraging-since-2023-67944