CryptoQuant has revealed that Bitcoin futures liquidity is currently weak, signaling a potential shift in market direction. Analyst Axel Adler Jr. highlights this decline as indicative of declining trader confidence and waning buyer initiative. His analysis indicates the market bulls are fatigued after recent attempts to regain control were unsuccessful. 30% drop in open interest confirms this trend. Despite this, DeFi Total Value Locked (TVL) has not shown significant changes. While caution remains in the market, historical data suggests a possible rebound as seen before during bearish trends. This could be fueled by a lack of liquidity and subsequent short squeezes. Understanding these dynamics will be crucial for navigating potential market shifts in Bitcoin and Ethereum.