According to TechFlow TechFlow, on January 5th, Matrixport released a chart stating that "starting the new year with lighter positions and lower leverage is often more conducive to market rebalancing, and price movements are more likely to return to a more natural rhythm. Since the October 2025 high, the leverage corresponding to the open interest in BTC and ETH futures has been cleared by nearly $30 billion."
Entering 2026, positions are lighter and speculative overheating has cooled significantly. As crowded trades recede, the price movements of Bitcoin and other crypto assets are more likely to return to their fundamental rhythm, opening up upside potential.
