Bitcoin's open interest has dropped by $12 billion, indicating a significant reduction in leveraged positions. This development suggests traders are clearing leverage, potentially paving the way for a healthier market recovery. Institutional investors are capitalizing on the dip, as evidenced by a positive Coinbase Premium, reflecting strong confidence in Bitcoin's long-term growth prospects. Additionally, increased stablecoin liquidity and reduced leverage levels hint at potential fresh buying power that could drive Bitcoin's next major rebound.