Odaily reported that Matrixport released a chart today, showing that we are witnessing a significant decline in open interest (OI) as prices fall, indicating that some traders are unwinding their long positions amid the escalating trade war and the Federal Reserve's persistent hawkish stance. Notably, Ethereum's open interest has retreated to its lowest level since the summer of 2024. Despite Trump's recent tweet about potentially establishing a Strategic Bit Reserve, and the upcoming White House Crypto Summit on March 7th, the market remains in a risk-off mode, with investors reducing their risk exposure. Many traders seem to be waiting for clearer macroeconomic signals before rebuilding their long positions.