Bitcoin Open Interest Sinks 31% From 2025 Peak as Analysts Highlight Deleveraging Bottom and Target $105,000 Resistance

Bitcoin's open interest has fallen more than 31% from its 2025 high to roughly $10 billion, dropping below the 180-day moving average in a deleveraging phase that some analysts view as a market bottom. With spot volume approaching $60 billion and a key positioning index breaking above 3 for the first time since October 6, projections now focus on a potential breakout toward the $100,000–$105,000 zone and a possible retest of the $120,000 highs.