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PANews, January 15—According to Cointelegraph, CryptoQuant data shows that the open interest (OI) in the bitcoin derivatives market has dropped by about 30% since last October. Analysis indicates that this "deleveraging signal" helps clear the excessive leverage accumulated in the market. Historically, similar sharp declines have often marked significant market bottoms, laying a more solid foundation for a potential bullish recovery. However, if bitcoin prices continue to fall and fully enter a bear market, open interest may shrink further, implying deeper deleveraging and a prolonged adjustment period. On October 6 last year, bitcoin open interest reached a historic peak of over $15 billion. Currently, when prices rise while open interest declines, it usually means that leveraged short positions are being closed or liquidated. This "short squeeze" scenario may benefit bitcoin, as price increases are driven more by spot buying rather than excessive leverage. However, derivatives provider Greeks Live pointed out that the derivatives market has not yet entered a structurally bullish phase, and the current trading structure is more like a passive response to a sudden price surge.

According to Odaily, the yield on South Korea's 3-year government bonds rose by 10.7 basis points to 3.108%, reaching a new high since August 2024. (Golden Ten Data)

 according to Bloomberg, that Bank of England Deputy Governor Dave Ramsden stated that the UK may need to provide a protection mechanism for stablecoin deposits similar to bank deposit guarantees. Ramsden pointed out that the central bank is considering how to maintain public trust in the currency in the event of a collapse of a systemically important stablecoin. He suggested that long-term trust in stablecoins may require the establishment of a scheme similar to bank deposit insurance, and to ensure that stablecoin holders have priority creditor status in bankruptcy proceedings under statutory liquidation arrangements. Ramsden's remarks indicate that the Bank of England may extend the current protections for bank deposits to widely used stablecoins. The Bank of England has raised the protection limit for regular cash deposits by the British public from £85,000 to £120,000 to guard against bank failures. The Bank of England plans to implement stablecoin regulatory rules by the end of the year.