One Year After Crash, Bitcoin Leverage Shifts to Altcoins
A year after bitcoin’s historic crash, most leveraged exposure has moved into other cryptocurrencies, CoinMarketCap analysts say.
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what happened
Dow Jones Newswires, citing CoinMarketCap analysts, reports that most leverage has moved from bitcoin into other cryptocurrencies in the year since the flagship coin’s historic crash. October 10 marked one year since bitcoin plunged from $122,000 to $105,000 within minutes as highly leveraged positions collapsed.
CoinMarketCap said global crypto-asset open interest—the value of derivatives contracts that remain open—climbed 15% this week, while bitcoin open interest dropped 6%. “A year after the 10 October crash, the market owns bitcoin in spot and barely owns it on leverage. The gearing has migrated to altcoins,” Alice Liu, CoinMarketCap’s head of research, wrote. Bitcoin was down 0.2% at $83,450.
why it matters
The divergence between bitcoin’s falling open interest and the broader crypto market’s increase points to a shift in where derivatives leverage is concentrated. The change matters because it shows how exposure to market risk has been redistributed one year after the sharp selloff.
instruments
sources
- One Year Since Crash, Most Leverage Leaves Bitcoin — Market Talk — Dow Jones Newswires, 12 October 2026 at 10:48 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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