According to CoinMeta, based on coinalyze data, the total open interest of altcoin perpetual contracts has surpassed that of Bitcoin for the first time since December 2024. The total market value of altcoins outside the top ten in market capitalization has risen above $200 billion, an increase of over 10% from the beginning of September. The price of Bitcoin remains above $80,000. At the beginning of September, the open interest of zec reached a record $2.4 billion, and when the price broke through $1,000, it triggered a liquidation of $34 million in short positions. Historical data shows that when open interest accounts for about 4.42% of the total market value, the market is more prone to volatile increases and chain liquidations. After a similar crossover in December 2024, various tokens with medium market capitalization experienced significant corrections, while Bitcoin remained relatively stable.