<ul><li>Bitcoin's Open Interest (OI) has witnessed a sharp decline, indicating a shift in market sentiment as investors withdraw their positions in the face of continued volatility.</li><li>The decrease in open interest, along with significant liquidation of leveraged positions, triggering volatility, could lead to a drop in confidence among derivatives traders and affect BTC's short-term price prospects.</li><li>Despite the decline in open interest, long-term holders have been accumulating Bitcoin, reflecting strong interest in the asset and indicating market growth.</li><li>BTC's price has increased over 3% in the last 24 hours, but the trading volume has decreased, suggesting renewed bearish sentiment.</li></ul>

Bitcoin Open Interest Takes A Notable Hit, Are Traders Losing Confidence In BTC?

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