
In a digital scroll (X post), Ardi noted that Bitcoin’s price and open interest have diverged like two travelers on a cosmic express train with no idea where it’s going. Over six weeks, BTC climbed from $60,000 while open interest plummeted. Ardi explained this isn’t due to new buyers but because short-sellers, who had bet against Bitcoin like it was the last buffet on Earth, decided to cash in and buy a small island. “They locked profit. They exited. That exit pressure pushed the price up,” he said. Unfortunately, this isn’t the same as fresh demand, which would require something resembling hope.