[Analyst: 'Deleveraging Signals' in the Contract Market Over the Past 3 Months May Indicate a Market Reset and Formation of a Phase Bottom] BlockBeats News, January 15: Cryptocurrency data platform CryptoQuant stated that the open interest (OI) in the Bitcoin derivatives market has been steadily declining over the past three months, with leverage levels in the market gradually decreasing. This has created conditions for the overall market structure to turn bullish. Since October last year, Bitcoin derivatives open interest (OI) has dropped by 31%, which is considered a 'deleveraging signal' that helps eliminate excessive leverage accumulated in the market. The platform cited the opinion of crypto analyst 'Darkfost,' who said: 'Historical data shows that such deleveraging phases often mark the formation of significant bottoms, effectively resetting the market structure and laying a more solid foundation for a potential bull market recovery.' The analyst believes that the current situation may be repeating this pattern but also added that if Bitcoin continues to decline and fully enters a bear market, 'open interest may shrink further, indicating a deeper deleveraging adjustment and the continuation of a corrective trend.'