Bitcoin and Ethereum Open Interest Plummets $1.5B After Fed Rate Decision

BTC-0.62%
ETH0.02%
According to CryptoQuant analyst Amr Taa, Bitcoin and Ethereum open interest on Binance fell sharply on June 17 following the Federal Reserve's decision to hold rates steady at 3.50%–3.75%. Bitcoin open interest dropped 18% from $4.51 billion to $3.7 billion, erasing roughly $810 million in leveraged exposure. Ethereum open interest declined 25% from $2.8 billion to $2.1 billion, removing approximately $700 million in positions. In total, nearly $1.5 billion in combined BTC and ETH open interest was wiped from the exchange.
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