Record day #18
The Nov 21, 2025 deleveraging day
Record day #18 of 2,244 - open interest removed at prior-day prices - data to 2025-11-21
On Nov 21, 2025, $580M of Bitcoin perpetual open interest on Binance was closed out in a single day, the #18 largest deleveraging day of the 2,244 on record since 2020-09-02. Across all 493 covered markets the total was $1.25B, and 10.3% of them shrank by more than 10% while BTC moved -1.74% on the day.
Markets hit hardest
Open interest removed on the day, valued at the previous close; links go to each market's deleveraging history.
| Market | OI removed | Positions change | Price move |
|---|---|---|---|
| Bitcoin | $580M | -6.37% | -1.74% |
| Ethereum | $403M | -7.07% | -2.41% |
| Dogecoin | $46M | -17.92% | -5.80% |
| XRP | $42M | -9.19% | -2.45% |
| Solana | $21M | -1.83% | -3.74% |
| Aster | $19M | -11.66% | +1.68% |
| Litecoin | $12M | -13.58% | -5.25% |
| Pump.fun | $10M | -10.43% | -7.12% |
| Zcash | $8M | -2.30% | -15.95% |
| Ethena | $7M | -6.50% | -6.36% |
| Chainlink | $5M | -5.06% | -6.35% |
| Bittensor | $5M | -10.35% | -8.36% |
| FOLKS | $4M | -38.17% | -27.15% |
| GRASS | $3M | -26.76% | -31.49% |
| ZEN | $3M | -12.70% | -10.57% |
Neighbours on the all-time list
| # | Date | BTC OI removed |
|---|---|---|
| 16 | 2024-12-16 | $643M |
| 17 | 2025-06-23 | $621M |
| 19 | 2026-04-12 | $579M |
| 20 | 2026-03-05 | $570M |
Questions this record answers
How much open interest was wiped out on Nov 21, 2025?
$580M on the Bitcoin contract and $1.25B across all 493 covered Binance perpetual markets, valued at the previous day's close.
Where does Nov 21, 2025 rank among crypto liquidation days?
#18 of 2,244 days on record since 2020-09-02, ranked by Bitcoin open interest removed.
How broad was the deleveraging?
10.3% of the 493 covered markets saw their open positions fall by more than 10%; BTC's own open interest changed -6.40% and its price -1.74%.
Could you have sat through this day? Replay it candle by candle, without hindsight, in the K-line trainer.