Matrixport: Crypto market enters clear deleveraging phase, Bitcoin nears key support level

According to Foresight News , Matrixport tweeted, "The market is currently in a clear deleveraging phase, and the risk of maintaining high positions is rising. Ethereum's open interest has fallen by 50%, indicating that leveraged funds are shrinking rapidly. Against this backdrop, overall risk appetite is under pressure. Bitcoin is approaching the key support level of $93,000, and liquidity in this range may weaken further in the short term. The highly crowded futures long positions in the fourth quarter have been largely cleared, and the pressure on the leverage side has been temporarily relieved. The next thing to watch is that ETF holdings are currently relatively concentrated; if the market continues to weaken, these funds may have further demand for reducing their positions, thus bringing new liquidity pressure."