Bitcoin is slowly stabilizing after the dramatic flash crash that briefly sent its price plunging to $101,000 last weekend . The event caused widespread liquidations across the derivatives market and rattled trader confidence, leaving market sentiment deeply shaken.

On-chain data from CryptoQuant shows that Bitcoin’s open interest variation fell to negative 25 in the aftermath of the flash crash, its lowest reading in 2025. This decline highlights a market that has been cleansed of excessive leverage, but the question is whether this points to a major rebound or the start of a deeper correction.

Bitcoin Open Interest Sinks Into Extreme Fear Territory

According to on-chain analytics platform CryptoQuant, Bitcoin’s open interest variation , an indicator measuring changes in

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