Markets, Bitcoin, Glassnode, open interest, News Roughly $12 billion in futures positions were wiped out on Friday, marking a major shift in market structure and potentially signaling a bottom. 

Friday was the largest liquidation event on a nominal basis in crypto history. The scale of deleveraging is best understood by looking at open interest (OI) — the total value of outstanding futures and perpetual contracts that have not yet been settled.

Glassnode’s data shows before Friday’s sell-off, bitcoin open …

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