Bitcoin’s Open Interest drops… is this positive? Despite BTC rising 22%+ over the past week to #Bitcoin and approaching the $78,000 level, derivatives data reveals an important paradox: Open Interest measured in Bitcoin fell by about 11% to 312,600 BTC. This means the recent rally wasn’t driven primarily by leverage accumulation; instead, leveraged positions declined, making the rally’s structure relatively healthier and reducing the risk of a reversal caused by crowded trades. Summary: Price is rising while leverage is falling — a signal worth monitoring, especially if spot demand continues to outperform speculation. #BitcoinOpenInterestFallsToTwoMonthLow