Ethereum open interest shrinks to $11.5B as leverage unwinds
- —Aggregate ETH open interest fell to $11.5 billion
- —Binance OI dropped $1.3 billion in a month to $5.7 billion
- —Gate, HTX and Bybit cut OI by $995M, $857M and $310M
- —Binance still holds about 50% share, Bybit 17.5%
Why it matters: Leverage flush-outs often precede a price floor: after a similar unwind in July, ETH rebounded more than 32%.
Source: CoinPost