Bitcoin Holds $83K as Bitfinex Says Speculative Leverage Has Cleared
- —Futures open interest sits near $53 billion, the lowest since March
- —Calls account for 60.88% of bitcoin options open interest
- —Deribit's Oct. 30 max-pain level is $76,000 versus $83,700 spot
- —Binance holds $11.01 billion in BTC futures OI, 20.77% of the market
Why it matters: With leverage flushed out and IV at a one-year low, spot demand is the key driver; reclaiming $85,000 would return 760,000 BTC to profit.
Source: Bitcoin.com