Bitcoin Open Interest has seen a sharp drop, indicating a decrease in fresh positions and more calmer price action.
The 7-day change in Bitcoin Open Interest has decreased by 17.8%, leading to large liquidations in the market.
Historical trends suggest that similar crashes in Open Interest have previously signaled a bottom for Bitcoin, potentially presenting a buying opportunity.
Futures volume on derivatives exchanges for Bitcoin, Ethereum, XRP, and Solana has increased recently, indicating a return of speculative interest.