Market Deleveraging Continues as Leverage Positions Decline

According to BlockBeats, CryptoQuant analyst Darkfost has noted that the process of market deleveraging is ongoing, with excess risk being steadily eliminated and the use of leverage gradually cooling down. Over the past three months, there has been a 21% decrease in open interest. During the adjustment periods of September 2024 and April 2025, leverage positions saw declines of approximately 24% and 29%, respectively. These figures are now approaching levels similar to previous patterns. In bull market phases, a reduction in leverage positions often precedes a trend reversal, aiding in market cleansing and rebuilding on a healthier foundation.