According to Skew Δ (@52kskew), Bitcoin (BTC) experienced another significant drop to pre-FOMC lows, triggered by the same market entity as previous moves. Market positioning is weakening further, evidenced by declining open interest (OI). Notably, there is a divergence in perpetual contract cumulative volume delta (Perp CVD), caused by a mix of new long positions and shorts closing out. For traders, this combination signals increased volatility and potential for further downside, as the market structure remains fragile. Source: Twitter/@52kskew, June 18, 2025.