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There's some data about this BTC wave that's quite counterintuitive. The price surged from over 60,000 all the way up to around 80,000. Yet, the futures open interest actually decreased. The normal intuition would be: With such a strong rise, everyone should be wildly adding leverage. But in reality, many positions are being liquidated. So this wave looks more like the price rising while simultaneously clearing out those previous shorts. Price goes up,