According to BlockBeats, CryptoQuant analyst Axel reported on social media that the net open interest (OI Net Position) in futures has plummeted to a deeply negative territory, surpassing the $100 million mark, marking the highest bearish pressure level since early July.
Despite this, Bitcoin's price remains around $115,000, indicating that buyers are partially absorbing the selling pressure. This extreme divergence in negative positions could potentially trigger a short squeeze if the price continues to rebound. However, as long as the open interest remains in the maximum bearish pressure zone, the risk of further decline persists.
