Filecoin's Price Declines Amid Global Crypto Deleveraging Event

A sharp deleveraging event in the global crypto market led to a decline in Filecoin's price, falling by 3.78% within an eight-hour period.

The event was marked by a significant drop in total market capitalization, from $2.31 trillion to $2.22 trillion, representing a 3.90% drawdown.

Elevated liquidations and rising open interest with negative funding rates indicate forced unwinding of speculative positions rather than organic selling pressure.