TechFlame reports that on November 11, according to CryptoQuant analyst GugaOnChain, the cryptocurrency market's open interest (OI) dropped by 11.32% over seven days, approaching the critical threshold of 12%, which is viewed as a strong buy signal. This deleveraging indicates the market is clearing out excessive speculative leverage, a process historically regarded as a necessary "reset" for market health. Bitcoin has previously experienced OI declines ranging from 8% to 19%, with extreme cases seeing total open interest reduced by over $100 billion. Although current market sentiment may still be in a state of "extreme fear," major financial institutions such as JPMorgan believe Bitcoin holds "significant upside potential" following large-scale leverage unwinding. Analysts suggest the market is currently building a more stable foundation, creating favorable conditions for long-term investors.