$20B Liquidations Slam Crypto Market, Open Interest Collapses

[kevin1]

The crypto market is still reeling from Friday’s historic $20B leveraged wipeout, with global open interest dropping nearly 45% across exchanges.

Bitcoin (BTC $111,757) is struggling to hold $110K, while ETH is down 3.7% and SOL is down 7%. Analysts warn of further downside until CME BTC and equities futures reopen Sunday evening.

[Nahid10]

Open interest collapse means traders are de-risking massively — a full market reset might be underway.

[EmTeam]

A $20B liquidation wave is a cleansing event; leverage needed a purge before the next sustainable rally.