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Bitcoin perpetual futures trade below spot for 156 hours, raising risk of forced deleveraging.

Technical Signals
12 Nov 2026, 15:52 WIB
Tokenpost
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Bearish
Bitcoin perpetual futures trade below spot for 156 hours, raising risk of forced deleveraging.

Bitcoin perpetual futures have traded below the spot price for 156 consecutive hours, with a 0.047% discount in the latest 24 hours. During the past week, open interest in these futures increased by 22,000 BTC to 367,400 BTC, marking one of the strongest weekly gains since August. Analyst Axel Adler Jr. warns that the combination of a weak futures basis and rising open interest increases the risk of forced deleveraging in the market. A decline in open interest would signal reduced leverage, but the current trend suggests heightened selling pressure and potential market instability.

Bitcoin perpetual futures provide context with Pluang's market snapshot as of Nov 12, 2026 20:32 WIB: out of 50 major cryptocurrencies, 6 rose and 43 fell today. Notable movers include ENJ at Rp388 (-8.24%), EOS at Rp12.649 (+8.13%), and UNI at Rp110.129 (-6.07%) with 75% sell order activity. This data reflects broad market trends without linking directly to Bitcoin futures.

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