# Leverage Returns to Bitcoin: Binance Open Interest Surges to $9.6 Billion

> Following a sharp deleveraging in Bitcoin, open interest on Binance rose to $9.6 billion, surpassing the 180-day average; an analyst noted that a new sharp flush out could occur if…

**Following a sharp deleveraging in Bitcoin, open interest on Binance rose to $9.6 billion, surpassing the 180-day average; an analyst noted that a new sharp flush out could occur if excessive leverage accumulates.**

Leveraged trading in Bitcoin has begun to grow again after one of the sharpest liquidation periods since 2023. According to an assessment by CryptoQuant analyst Darkfost, **open interest** on Binance has reached approximately **$9.6 billion**.

This figure stands above Binance’s 180-day average of approximately **$8.3 billion**. Furthermore, positions on the exchange account for about **37 percent** of the total open interest across Bitcoin. This indicates that leveraged trading has returned to the market following the sharp deleveraging.

### Binance Open Interest Once Again Surpasses the Average

Darkfost described the recent movement as **one of the sharpest deleveraging phases since 2023**. The closing or liquidation of debt-fueled positions caused open interest to briefly drop below the 180-day average in the previous period.

According to the analyst, the return of traders **supports the recovery in Bitcoin**. However, the rapid growth of open interest could mean that leverage ratios in trades are rising once again. Therefore, if excessive leverage accumulates, a reversal in price movements could lead to a **risk of a new sharp flush out**.

Binance’s high share of total Bitcoin open interest increases the significance of changes on the exchange for the broader derivatives market.