TechFlow news, November 17 — According to the latest report by independent analyst Markus Thielen, the cryptocurrency market is undergoing a clear deleveraging phase, with rising risks in highly leveraged positions. Ethereum's open interest has declined by 50%, indicating a rapid contraction of leveraged capital. Against this backdrop, Bitcoin's price is approaching the critical support level of $93,000, and short-term liquidity may weaken further. Although the heavily crowded long futures positions seen in Q4 have been largely liquidated, analysts warn investors to monitor ETF holding concentration, as continued market weakness could trigger further deleveraging and create new liquidity pressures.
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