Opinion: The number of CME's outstanding BTC contracts has fallen back to the level before the US election, approximately over 150,000

Cryptocurrency analyst Miles Deutsch posted on platform X, stating that the amount of BTC valued in USD held in CME's open contracts has fallen back to levels before the U.S. election (approximately 150,000 BTC). A large part of this may simply be due to basic trade liquidation, but it is pleasing to see the overall leverage in the system being reset.