Grayscale (@Grayscale): Crypto futures markets across @OKX, @Bybit_Official, @binance, @HyperliquidX experienced a sharp deleveraging event on October 10, 2025, but open inte…
Estimated coin impact
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Crypto futures markets across @OKX, @Bybit_Official, @binance, @HyperliquidX experienced a sharp deleveraging event on October 10, 2025, but open interest stabilized in December. As a result, we no longer believe that post-October 10 deleveraging has been a meaningful driver of valuations in recent weeks.