BEARISH 45 CryptoSlate 50M ago · 1 min read 1 read

Bitcoin’s futures pile has a problem: less cash to fuel a rebound

AI summary

Bitcoin futures open interest reached 704,000 BTC this week, the highest since Sept. 24, according to DWF Labs' Martin Lee, even as spot market liquidity keeps thinning. A weak $25 billion 30-year Treasury auction on Nov. 12 drew a 2.36 bid-to-cover ratio, down from 2.54 in October, and cleared at 5.441%. Traders should watch the mismatch between crowded leveraged futures positioning and thin spot liquidity, which can amplify volatility and limit cash to fuel a rebound.

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