Night trading first turns on the risk control lights: $BTC this set of OI reports $0K, cannot be considered as “leverage cleared,” more like a data gap in the market.

Fear of greed 15 is an extremely panic zone.
Bull and bear 50/50, taker 1.0, indicating that active buying and selling currently have no clear bias.
Under the premise of distorted OI, do not use this data set to judge short squeezes or long kills, only look at whether the price and volume confirm each other.
Tonight’s strongest pressure comes from hawkish FOMC, with the news already indicating: Crypto dips, $BTC breaks below 64k.
The transmission of such news is very direct, first cutting high beta, then suppressing contract risk appetite.
If the rebound later does not increase volume, extreme panic does not equal a bottom, it only indicates that the market is very fragile.
Another hedging message is that the US and Iran MOU reportedly signed and in effect.
Geopolitical cooling was originally good for risk assets, but now it can only reduce headline risk, not directly fix the interest rate pressure after the FOMC.
So this is not “peaceful trading fully open,” but watching whether the risk premium continues to be retracted.
In structural events, CME is preparing to sue CFTC over the classification issue of Bitcoin perpetual contracts.
This is not an intraday rally news, but it will affect the regulatory path of US perpetual products.
For $BTC , in the short term, see if it can recover below 64k, first wait for OI data to recover on the contract side; before the data recovers, all leverage crowding judgments should be discounted. #BTC trend
This content is assisted by Claude Fable 5, for informational purposes only, please verify independently.