Last week, Bitcoin (CRYPTO: BTC) experienced a significant drop, plummeting to a low of $60,000, marking a 19% decline. The downturn is attributed to multiple factors, including massive deleveraging and miners being forced to sell, rather than a single catastrophic event. According to reports, futures open interest has dropped from $61 billion to $49 billion within a week, indicating a more than 20% decline in borrowed bets against Bitcoin. This drop in leverage parallels the decline in Bitcoin’