Bitcoin Open Interest Declines: Implications for Future Trends

Bitcoin's Open Interest has declined, indicating a reduced appetite for leverage and a slowdown in market excitement. This decrease in Open Interest, alongside significant liquidations, suggests a bearish trend as Bitcoin's price pulled back from its historic high. Despite a slight recovery, Bitcoin's dominance and liquidity have dipped, with investors possibly shifting focus to altcoins. The market's momentum remains weaker compared to earlier in November, reflecting a cautious sentiment among traders.