JPMorgan analysts note that declining open interest in #bitcoin might indicate a weakening price trend.
Long-position liquidations seem mostly complete, suggesting reduced selling pressure and a potential slowdown in the downtrend.
This drop in open interest reflects a possible weakening trend. Regulatory worries and market conditions have led to recent #crypto market decline, despite earlier positive drivers like ETF applications and Ripple's legal victory.
The overall impact, combined with rising U.S. real yields and China's economic concerns, adds to market uncertainty, as per JPMorgan's analysis.
