CryptoQuant data shows #BTC derivatives open interest has dropped about 30% from its October high, signaling broad deleveraging.
Historically, sharp OI declines often mark major bottoms and support rebounds. The current price rise alongside falling OI suggests short covering rather than excessive leverage, though Greeks Live notes the market has yet to enter a structurally bullish phase.
#CryptoMarkets #Bitcoin
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ANALYSIS: BITCOIN OPEN INTEREST DOWN 30% FROM OCTOBER PEAK, LAYING GROUNDWORK FOR A BULLISH REBOUND
CryptoQuant data shows #BTC derivatives open interest has dropped about 30% from its October high, signaling broad deleveraging. Historically, sharp OI declines often mark major bottoms and support rebounds. The current price rise alongside falling OI suggests short covering rather than excessive leverage, though Greeks Live notes the market has yet to enter a structurally bullish phase. #CryptoMarkets #Bitcoin