$BTC | Bitcoin Is Quietly Deleveraging — The Real Move Comes Later
Bitcoin looks calm on the surface, but beneath the price action, something important is unfolding. Price is compressed in a tight range while open interest continues to bleed lower. That’s not accumulation — that’s positions getting closed.$BTC
This is a textbook deleveraging phase.
No surge of fresh longs.
No aggressive short buildup.
Just leverage being flushed out slowly and methodically.
Here’s the part most traders miss: real breakouts don’t happen during deleveraging. They come after open interest stabilizes and begins to rebuild. Until then, price usually chops, throws fake moves both ways, and punishes impatience.
Right now, there’s no new fuel entering the system. Without leverage, moves lack conviction and follow-through.
Translation?
This isn’t the breakout.$BTC
It’s the reset before direction reveals itself.
Watch open interest — not candles.
When leverage returns, the move won’t be subtle.