Analysis: BTC open interest shrinks by 49,000 in 7 days, proactive profit-taking replaces forced liquidations

K33 Research head of research Vetle Lunde analyzed that over the past 7 days, CME and perpetual contract BTC open interest combined decreased by 49,000, the largest single-week decline since October 2025, during which market volatility remained subdued and funding rates continued to trend downward.Unlike previous major deleveraging episodes that were accompanied by forced liquidations, this round of deleveraging is closer to proactive profit-taking, with overall market sentiment becoming more rational.