Bitcoin price ‘breather’ expected as short-term traders realize $11.6B in profit

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The price plunge resulted in a significant $1.2 billion open interest reduction in Bitcoin positions, signaling a wave of deleveraging as traders reduced futures exposure.🚨LATEST: #Bitcoin open interest exhibits a $1.2 billion position flush after $BTC drops below $110,000.pic.twitter.com/0ee46BiHGD— Cointelegraph Markets & Research (@CointelegraphMT) May 23, 2025Despite the initial sell-off, Bitcoin rebounded above $109,000, with speculators dismissing the sell-off period.

Source: Hyblock / XRelated: US Bitcoin ETFs near record month after $1.5B inflows in 2 daysBitcoin open interest dropped by $1.2 billion as BTC fell under $110,000Bitcoin experienced a sharp decline, dropping to $108,000 from $111,300 before the New York trading session opened on May 23.

Bitcoin (BTC) price recently hit a new all-time high of $111,800, but the bullish momentum may slow down as onchain data from Glassnode reveals significant profit-taking by short-term holders (STHs), potentially signaling a market "breather".

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Author / Journalist: Cointelegraph by Biraajmaan Tamuly

Category: Crypto

Markets: United States

Topics: Traders Price Realized Profit-taking Bitcoin Short-term Open Expected Billion Interest Market

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-23 @ 20:15:00 (11 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 542 words

Reading Time: 4 minutes read

Sentences: 28 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28928400

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About Coin Telegraph

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