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Glassnode: Traders added to their long positions after Bitcoin broke above the previous high, and the current pullback is helping to flush out leverage.

2025.10.07 23:48:34

On October 7th, Glassnode shared data on social media indicating that with Bitcoin breaking through its previous high, traders increased their long positions, resulting in a notable rise in BTC futures open interest. The current pullback is testing the durability of these long positions and facilitating a market leverage reset. Going forward, close attention should be paid to two signals: when and where buyer strength emerges, and whether key support levels can reactivate market demand.
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