News Summary

• Bitcoin slipped below the psychologically important $70,000 level on Tuesday, trading around $69,300.
• Open interest across bitcoin futures markets has climbed to approximately 773,000 BTC, a level last seen only a handful of times on record, according to Coinglass data.
• The current positioning suggests leveraged traders are betting on a quick price rebound rather than trimming risk.
• That growing leverage is also reflected in perpetual futures funding rates, which have risen to roughly 10% annualized.