BTC open interest just booked its biggest weekly drop since October 2025 — down roughly 49,000 BTC across CME and perps — and almost none of it came from liquidations.
That distinction matters. October's deleveraging was a cascade: forced exits, cascading liquidations, an ugly drawdown. This one looks orderly. Funding is still positive on 24 of the 25 largest BTC perpetuals, meaning longs are still paying to stay long — they're just doing less of it. Positioning that built up on the run toward $87K is getting trimmed voluntarily, not margin-called out.
The open question is whether that holds. Orderly profit-taking and the early stage of an exit can look identical on an OI chart until they don't.
How are you reading this deleveraging — healthy reset before the next leg, or longs quietly heading for the door?
#Bitcoin #TradingSignals #TokenBot $BTC $TBOT
That distinction matters. October's deleveraging was a cascade: forced exits, cascading liquidations, an ugly drawdown. This one looks orderly. Funding is still positive on 24 of the 25 largest BTC perpetuals, meaning longs are still paying to stay long — they're just doing less of it. Positioning that built up on the run toward $87K is getting trimmed voluntarily, not margin-called out.
The open question is whether that holds. Orderly profit-taking and the early stage of an exit can look identical on an OI chart until they don't.
How are you reading this deleveraging — healthy reset before the next leg, or longs quietly heading for the door?
#Bitcoin #TradingSignals #TokenBot $BTC $TBOT
