The BTC CME Futures Open Interest is sitting at about half of what it was during the peaks throughout 2025. The market has unwound a massive amount of leverage and open interest in USD terms since the 10/10 flush and following price action. All that matters now is for spot and ETFs to eventually find a proper equilibrium where the market can find it's footing again. The market is at least very far from getting hot anytime soon. So even if we'd see some relief somewhere in Q1, there's plenty of room in that regard.(Daan Crypto Trades)