Bitcoin’s recent surge in price has pushed Open Interest and BTC price to record highs as it approaches the 100K mark. The surge in Open Interest was mainly due to a surge in leveraged positions. However, as these positions grew too quickly, the market corrected, with Bitcoin price dropping 9%, leading to leveraged position liquidations. Following this event, the 7-day percentage change in Open Interest dropped sharply, approaching its low. This may make the market healthier, but liquidation events may occur before Bitcoin challenges the psychological resistance of 100K. Tracking this metric helps with long or short positioning and provides insight into global investor behavior.