BTC Open Interest: -55% from ATH. Biggest flush since April 2023. Leverage wiped. Mining 1 BTC costs $80K+. Price < $70K. Miners underwater. When cost > price, something adjusts. India’s reserves just fell $6.7B to $717B after a record high, per the Reserve Bank of India. Gold marked sharply lower. Leverage down. Miners stressed. Reserves swinging. Compression like this rarely lasts.
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Three pressure points. One market.
BTC Open Interest: -55% from ATH.
Biggest flush since April 2023.
Leverage wiped.
Mining 1 BTC costs $80K+.
Price < $70K.
Miners underwater.
When cost > price, something adjusts.
India’s reserves just fell $6.7B to $717B after a record high, per the Reserve Bank of India.
Gold marked sharply lower.
Leverage down.
Miners stressed.
Reserves swinging.
Compression like this rarely lasts.