Bitcoin Hits Its Lowest Level Since August 18: Binance Open Interest Falls to $8.3 Billion - Kriptofoni

According to data shared by blockchain analytics platform Santiment on November 14, 2026, the total value of Bitcoin open interest on Binance fell to approximately $8.3 billion. This decline occurred as Bitcoin's price dropped toward the $68,000 region, triggering another wave of liquidations that hit leveraged positions opened by traders expecting further price increases.

A November 13 report by CoinDesk, citing CoinGlass data, revealed that approximately $1.64 billion in cryptocurrency positions were liquidated within 24 hours. Long positions accounted for 88.7% of the total liquidations, indicating that the price decline had placed significant pressure on investors anticipating a market recovery.

Key Price Levels

Santiment emphasized that a rapid recovery toward the $70,000–$72,000 range could strengthen bullish sentiment across the market. Such a rebound would likely increase open interest as traders begin opening new leveraged positions. The analytics firm highlighted these price regions when evaluating the possibility of a market recovery, noting they shouldn't be considered definitive reversal points.

The deleveraging process, which began approximately two weeks earlier following the attack on Binance, had intensified with the latest wave of selling. According to Santiment, clearing out crowded long positions could reduce the risk of additional forced selling if prices begin to stabilize.

Recovery Scenarios

Santiment outlined two potential recovery scenarios. In the first, if Bitcoin's price stabilizes while open interest on major exchanges remains relatively low, it could indicate that the recovery is being supported by direct purchases in the spot market rather than an increase in leveraged trading activity.

The analytics firm believes this second scenario would create a healthier market environment for cryptocurrencies. A recovery driven by spot demand may be less vulnerable to sudden liquidations triggered by highly leveraged positions. However, a decline in Bitcoin open interest should not be interpreted as a bullish signal on its own, as it measures both long and short positions.

The central point of Santiment's analysis is that reduced leveraged exposure could limit forced selling pressure during a potential recovery. However, a reduction in leveraged positions alone is not enough to trigger another Bitcoin rally. Stronger spot market demand and easing selling pressure will also be important.

Market Outlook

In the coming period, whether Bitcoin can reclaim the $70,000 level will be important, but so will the nature of any potential recovery. Investors will need to monitor whether a rebound is accompanied by rising open interest or primarily supported by spot market purchases.

Santiment's data brings this distinction into focus for investors seeking to understand the strength and sustainability of a potential Bitcoin recovery. The analytics firm's assessment comes as Bitcoin's price has declined by 2.69%, reflecting the current market volatility.