- On-chain analyst Darkfost said Bitcoin has passed through its strongest deleveraging phase since 2023.
- He said Binance's Bitcoin open interest (OI) fell well below its 180-day moving average, but remains above the average, indicating that leverage has not disappeared completely.
- Darkfost added that traders' re-entry is helping drive a strong rebound in Bitcoin, but excessive leverage reaccumulation could trigger another sharp deleveraging event and should be monitored closely.
Analysis: Bitcoin Underwent Its Sharpest Deleveraging Since 2023, CryptoQuant Analyst Says
The Bitcoin market has just come through its most intense deleveraging phase since 2023, according to an analysis by on-chain analyst Darkfost.
bloomingbit
Publisher
Sep 7, 2026 at 8:31 AM UTC · 1 min de lecture
Key Signal
$9.6B Binance Bitcoin open interest
Entities
bitcoin
Market Impact
BTC-1.31%$78,373
Last Updated
il y a un jour
Forecast Trend Report by Period
The Bitcoin market has just come through its most intense deleveraging phase since 2023, according to an analysis by on-chain analyst Darkfost.
In a CryptoQuant post on September 7, Darkfost wrote that Bitcoin had "just gone through the strongest deleveraging phase since 2023." In a cycle dominated for an extended period by futures trading volume, the recent correction was a process of flushing out accumulated leverage.
That was evident in a sharp drop in Bitcoin open interest on Binance, the world's largest digital-asset exchange. Darkfost said open interest fell far below its 180-day moving average, underscoring the speed and severity of the deleveraging.
Bitcoin moved from $63,922.1 to $78,373.2 over the last 30-day period, a gain of 22.6 percent.
Source: Kraken · NewsLayer Markets · Updated il y a quelques secondes
He described the move as a necessary correction for the Bitcoin market. During a correction, excessively crowded positions are either forcibly liquidated or closed through investors' stop-loss selling. Across both long and short positions, Bitcoin experienced one of the largest liquidation events in its history during this cycle.
Market Context
Bitcoin
BTC
$78,373
-1.31% (24H)
Market Cap
$1.58T
Circulating Supply
20.1M BTC
24H Volume
$28.3B
24H High
$79,634
Article Intelligence
Key Entities
Related Coverage
CryptoCrypto Today: Bitcoin, Ethereum, XRP tick down despite a broader bullish crypto market outlookil y a une heure · 5 min read
CryptoBTC price range on Sep 8, 2026 at 7am EDT Crypto Prediction Marketil y a une heure · 1 min read
CryptoWhy Bitcoin, Ethereum and XRP uphold bullish outlook despite correction?il y a une heure · 1 min readSponsored
Ad
NewsLayerLearn more
NewsLayer Premium
Unlock deeper intelligence.
Ad-free reading, exclusive research, and real-time onchain insights.
Go Premium