Bitcoin's recent rally saw Open Interest and BTC price reach unprecedented highs, nearing the critical 100K target. This surge was fueled by a notable rise in leveraged positions, reflecting robust market optimism. However, the rapid growth led to a 9% price correction, triggering a wave of liquidations. Post-liquidation, the 7-day percentage change in Open Interest declined sharply, suggesting a potential market stabilization. Historically, such shifts have preceded short-term market changes. Monitoring this metric offers valuable insights into investor behavior, aiding in strategic positioning.