[Opinion: ETH Deleveraging Nears Completion, Panic Hides Potential for Rebound] BlockBeats reports on October 25th that CryptoQuant analyst Darkfost stated that altcoins, especially Ethereum, have been generally weak over the past three weeks, with ETH experiencing a pullback of approximately 15%, resulting in a market capitalization loss of about $54 billion. This is even more pronounced in derivatives, with ETH open interest on Binance decreasing by approximately $1.3 billion in a month, a drop of nearly 20%, falling to approximately $5.7 billion. Total open interest across the entire market has now fallen to approximately $11.5 billion. Darkfost's analysis suggests that the widespread deleveraging stems from price declines triggering liquidations and traders actively reducing their positions. Open interest saw an even larger drop in July, followed by a technical rebound of over 32% for ETH, pushing the price back above $2800. This type of deleveraging is often accompanied by market panic and frequently occurs at the end of a correction. [Original Link]