According to @52kskew, BTC spot order books show increased bid depth, but not yet substantial, making passive spot flows the key near-term driver. Source: @52kskew on X, Oct 7, 2025. On perps, a clustered bid area was filled and open interest and positioning have been reset, indicating leverage has been cleared and the next move hinges on fresh positioning. Source: @52kskew on X, Oct 7, 2025. Traders should monitor passive spot flow, the pace of OI rebuild, and funding or spot-perp basis for directional confirmation as leverage-driven momentum is currently neutralized. Source: @52kskew on X, Oct 7, 2025.