Ethereum experienced a significant $10 billion drop in Open Interest (OI) on October 10, falling from $28 billion to $19 billion in a single day. This massive deleveraging event has sparked discussions about a potential market rebound, as it led to a leverage reset and increased whale accumulation. Notably, BMNR acquired 128,718 ETH valued at $480 million following the crash. The ETH/BTC ratio also saw a 1.24% intraday increase, indicating Ethereum's relative strength against Bitcoin. Analysts believe the rapid reduction in leverage could pave the way for smart money to re-enter the market, potentially driving a recovery in Ethereum's price.