BTC After sweeping the previous high, we are now seeing a larger pullback. During this correction, open interest has started to build up again, while spot selling has accelerated. At the same time, we’ve seen a decent amount of long liquidations, suggesting that this move has been driven by both longs getting squeezed out of the market and spot starting to sell. What makes this slightly more concerning is that open interest is increasing despite these liquidations, which suggests that new positions are entering the market as price moves lower. As long as spot continues selling and open interest keeps building, I think there is a good chance that this correction continues and BTC starts targeting the remaining downside liquidity. For this bearish pressure to weaken, I’d want to see spot buyers step back in and open interest start cooling off again.(Max Trades)