
In a moment of cerebral revelation on X (which seems to be the place for modern-day clairvoyants), Ardi revealed an insight that could make even the most jaded crypto fan’s heart skip a beat. Back in the last cycle bottom-brace yourselves-it wasn’t just Bitcoin’s price that found a floor (how quaint), but the Open Interest was ruthlessly obliterated, evaporated into the ether. Leverage was reset to zero, like the cruel fingers of fate swiping away our hopes of quick riches. That, dear reader, was when the ‘real bottom’ began. The analyst suggests that perhaps, just perhaps, history might be repeating itself, for the market has already begun expelling excess leverage-like a party guest who overstays their welcome. But beware, the true bottom, the ‘final chapter,’ doesn’t reveal itself until speculative excess is almost entirely wiped from the face of the Earth. Alas, the stakes are high, and Bitcoin’s open interest still lingers at $43.86 billion, with derivative volume tipping the scales at a gargantuan $87.68 billion. Hopes, as always, are high. It’s only a matter of time.