Recent trading volume in derivatives markets has surged for Bitcoin, reaching record highs despite a lack of similar activity in the spot market. This surge is attributed to increased bullish sentiment and investor appetite for potential profits from rising BTC prices. However, data suggests a looming possibility of a price pullback. Bitcoin recently hit an all-time high of $111,980 on Binance on May 22nd. This was accompanied by Open Interest (OI) hitting a record $74 billion. High OI signifies bullish sentiment in the derivatives market. Yet, significant accumulation of liquidations exists below the $100k mark, a phenomenon that could potentially trigger a downwards price movement as liquidity is drawn towards these levels. Is this a sign of an impending short-term correction?