The decline in Bitcoin's price is testing investors.

The recent pullback in Bitcoin (BTC) prices continues to attract investor attention. Following upward movements, there has been a rapid increase in futures positions. However, the current decline puts these positions to an important test.

According to data released by Glassnode, there had been a noticeable increase in leveraged long positions in the futures market. The rise in the open interest indicator suggests that many investors have entered with the expectation that the price of Bitcoin will rise further. However, the recent price pullback has raised questions about how these positions will perform.

This corrective movement is said to potentially reduce the excessive leverage pressure that has built up in the market. The normalization of leverage ratios could pave the way for a more sustainable increase. Therefore, the price levels at which new buyers will enter may be decisive for Bitcoin’s direction in the coming days.

Glassnode is focusing on how key support areas will react during the current decline in Bitcoin. If strong buying occurs at these support levels, the market could regain upward momentum. However, if the supports remain weak, the possibility of facing a deeper correction will also come into play.

In the short term, for Bitcoin to regain strength, increasing buyer interest at the support levels is critical. Otherwise, the high leverage in the futures market may continue to exert pressure on prices.