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$BTC is bouncing around $63.3K, but the positioning underneath still looks fragile. • Funding: +0.0057%, rising again • Open interest: ~297K, slightly off the recent peak but still elevated • Coinbase premium: -0.116%, US spot demand remains weak • CVD: -45.5K, still negative despite some improvement The 7-day OI vs price map remains in the leveraged sell-off quadrant. Price is lower over the week while OI has increased. So leverage is still present without convincing spot confirmation.