🚨 The 180-day open interest delta is entering the red zone — another bottom?

📉 Over the past 6 months, more leveraged positions have been closed than opened in the derivatives markets.

📊 The 180-day OI delta has turned negative — historically, this has often signaled local bottoms for BTC.

🔻 Who is selling:

• Bitget: –$7.42 billion

• CME: –$3.93 billion

🔺 Who is buying:

• Gate.io: +$3.2 billion — are market makers here playing against the crowd?

⸻

📜 What history says:

• 2021: OI delta turned negative → BTC shot up from $30K to $69K

• 2023–2024: similarly — every “red zone” → local bottom

• ❗ 2022 — exception: delta fell → and the deepest bear market came

⸻

⚖️ What does this mean now?

If the delta turns positive → possibly the start of a new bull run

If the decline continues → we face prolonged downward pressure

🧠 Stay alert: liquidity and OI behavior are key indicators of turning points in the market.

#BTC