📊BTC$BTC traders again started to return to derivatives.
After the market decline in October, traders massively reduced risk: closed positions, liquidated, Open Interest fell below its 180-day low medium.
Such a phase is called deleveraging — the market is cleared of excess leverage and speculations.
Since then the situation started changing:
Binance Open Interest grew from ~$6.4B to ~$8.96B.
OI again rose above 180-DMA, which is considered a sign of return of speculative capital.
This helped the current bounce of BTC up.
The tremendous interest in futures is always waiting for the market to fall.