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Choice4u
During this retracement, the open interest (OI) of $BTC contracts has undergone a significant cleanup.
In the previous rebound, OI had not truly expanded significantly, and now the remaining long positions have either taken profits or have been forcibly liquidated.
The current open interest has fallen back to the level when Bitcoin was just above $60,000. From the current market perspective, speculative leverage in the market is very clean.
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