High Bitcoin open interest near $70K may lead to sharp drop in prices.

From Coin Telegraph, October 21, 2024, 1:10 AM:

High open interest in the market indicates an increase in leverage, potentially leading to a mass liquidation of positions and a sharp drop in prices. This situation could trigger another market downturn if positions are forcefully closed.

Read more at Cointelegraph.: Bitcoin open interest exceeds $40B amid brush near $70K