According to CoinMeta, analyzed by Vetle Lunde, the research supervisor of K33 Research, in the past 7 days, the total number of open contracts for CME and the perpetual contract BTC decreased by 49,000, marking the largest weekly decline since October 2025. During this period, market volatility was low, and funding rates continued to fall; this round of deleveraging was mainly an active profit-taking action.