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TechFlow reported, Matrixport stated that as geopolitical risks emerged over the weekend, Bitcoin's price dropped sharply, resulting in $2 billion worth of Bitcoin futures open interest being liquidated.
On April 9, positions reached a peak of $20 billion, with nearly 20% of those positions now liquidated. Open contracts currently stand at $16.7 billion. Interestingly, Bitcoin has not demonstrated the safe-haven characteristics many expected.
Matrixport stated that as geopolitical risks emerged over the weekend, Bitcoin prices dropped sharply, leading to the liquidation of $2 billion in Bitcoin futures open interest. On April 9, positions reached a peak of $20 billion, with nearly 20% of those positions now liquidated, leaving open contracts at $16.7 billion. Interestingly, Bitcoin has not exhibited the safe-haven characteristics many had expected.
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