Recent price surges for Bitcoin have sparked observations of a possible market consolidation phase. Analysts Alphractal and Crypto Rover, citing their analysis, highlight that Bitcoin open interest is currently significantly lower than during similar price points in the past. This decline suggests reduced investor activity and potential liquidation events as many investors appear cautious. Despite prices exceeding $100,000 and reaching $103,800 recently, the current Bitcoin open interest of approximately $61.3 billion lags behind previous cycles at this price level. Experts attribute this to potential market adjustments triggered by investor actions such as liquidations or re-strategizing their positions. This lower open interest could reflect increased caution among investors, potentially driving a period of market consolidation.