Bitcoin holdings on Binance have fallen to $8.3 billion.

Bitcoin holdings on Binance fell to approximately $8.3 billion, the lowest level since August 18. As the price plummeted towards $68,000, a large number of long positions were liquidated, forcing leveraged traders to exit the market. If prices rebound to the $70,000 to $72,000 range over the weekend, open interest will likely increase accordingly. If Bitcoin prices stabilize and open interest remains at current low levels, the rebound will be driven by spot demand. (Santiment)