Glassnode: Bitcoin Market Leverage was effectively flushed out as of 10/11, significantly reducing the risk of cascading liquidations.

BlockBeats News, October 21st, Glassnode posted on social media that after the October 11th crash, the open interest of Bitcoin futures contracts dropped by about 30%, indicating that excessive market leverage has been effectively flushed out. With the funding rate returning to a neutral level, the risk of cascading liquidations in the market has been significantly reduced.