Bitcoin Eyes Fresh August Lows With Binance Longs Under Pressure

Bitcoin hovers near $63,000 as $192M in open interest faces pressure. Despite cooling U.S. inflation data boosting equities, crypto demand remains weak, forcing leveraged longs out of Binance.

Woofun AI reports that Bitcoin is approaching new August lows near the $63,000 mark, with $192 million in open interest under significant stress. Although cooler U.S. inflation figures supported equity markets, they failed to stimulate demand within the cryptocurrency sector. This dynamic suggests that leveraged long positions are being systematically liquidated. Despite substantial remaining leverage, bullish positioning on Binance is being flushed out, creating a fragile market environment where optimistic options bets clash with ETF withdrawals and long-position squeezes.