@thanhbinh1066

Since Jan 1, BTC rallied from ~$87.8k to ~$93.5k (~6.5%). Over the same period, futures OI in USD terms rose from $29.8B to $31.7B (+$1.9B, ~6.4%), which made some people think new leverage rushed in. But that’s mostly price repricing existing positions, not aggressive new speculation. In BTC terms, OI has stayed roughly flat around ~338k BTC. Zooming in: the move started with a short squeeze, then the pullback flushed newly opened, high-leverage longs. So far, this looks more like positioning cleanup than fresh FOMO leverage piling on.

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