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Morning Edition · Monday, September 7, 2026Published at 1:46 AM EDT · New York
Leverage Moves Out of Bitcoin as Altcoin Perpetual Open Interest Overtakes It
Zcash futures positioning of roughly $2.3 billion drove the shift, the first since December 2024, after the privacy token traded above $1,000.
Open interest in altcoin perpetual futures moved above bitcoin's on Sept. 6 for the first time since December 2024, according to Coinalyze data reported by crypto.news. The largest single contributor was Zcash. Open interest in ZEC futures…
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Leverage Rotates Into Altcoin Perpetuals
With spot capital concentrated in a few large assets, incremental risk-taking keeps moving into perpetual futures on smaller tokens, so liquidation cascades rather than cash flows increasingly set short-term price direction across crypto markets.
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