Bitcoin Faces High Bearish Pressure Amid Deep Negative Futures Positions

According to BlockBeats, CryptoQuant analyst Axel reported on social media that the net open interest (OI Net Position) in futures has plummeted to a deeply negative territory, surpassing the $100 million mark, marking the highest bearish pressure level since early July. Despite this, Bitcoin's price remains around $115,000, indicating that buyers are partially absorbing the selling pressure. This extreme divergence in negative positions could potentially trigger a short squeeze if the price continues to rebound. However, as long as the open interest remains in the maximum bearish pressure zone, the risk of further decline persists.