Has Bitcoin Finally Bottomed? On-Chain Data Points to a Neutral Reset

TLDR: Bitcoin open interest dropped over 55% from its March 1, 2026 peak, reflecting massive forced liquidations across the market. STH-SOPR hit 0.9215 in January 2026, confirming short-term holders sold at heavy losses during peak capitulation period. By May 7, 2026, aSOPR reached 1.0008 and STH-SOPR hit 1.0037, showing the market has returned to a [...]

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