Open interest held steady and funding stayed subdued during the recent liquidation wave, suggesting traders were de-risking rather than capitulating, according to HashKey Research's Tim Sun. Bitcoin hovered around $77,700 after a brief drop below $77,000, with derivatives data suggesting the move was a leverage flush rather than the start of a deeper downturn. Analysts say the $75,000 to $77,000 range remains a key support zone, as liquidations were split between longs and shorts and did n…
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