Bitcoin has been working as a buying opportunity for 2 years: Again it has pulled back by 18%! - Coin Bulletin

In the last 7 days, open positions in Bitcoin (BTC) futures have decreased by 17.8%, and this may signal a new buying opportunity.

The recent fluctuations in the cryptocurrency market have brought a noteworthy development in the Bitcoin (BTC) futures market. According to data shared by Maartunn, an analyst from the on-chain analysis platform CryptoQuant, there has been a 17.8% decrease in the amount of Bitcoin's open interest (açık pozisyon) over the past 7 days. This indicates that billions of dollars worth of leveraged positions have been wiped out from the market.

Open interest refers to the total number of positions that are open in futures contracts. Sharp declines in this ratio typically indicate large-scale liquidations in the market. However, according to analysts, such "clean-ups", meaning the closing of leveraged positions, can coincide with periods when the price has hit a bottom and new uptrends may begin. Looking at historical data from the last 2 years, similar declines have often created significant buying opportunities.

Drop or opportunity? As Maartunn emphasized, periods of flush-out like this contribute to the elimination of weak hands in the market and the formation of a healthier price structure. With the decrease in leveraged transactions, the pressure on the price can also ease. This could create a suitable ground for Bitcoin to regain strength.

This development is particularly a signal that long-term investors need to monitor closely. If history repeats itself, such declines may herald new rises for BTC price.