Bitcoin Traders Return to Derivatives Markets After 8 Months of Deleveraging

TLDR: Binance Bitcoin futures Open Interest climbed from $6.4B in March to $8.96B, topping the 180-day moving average. The eight-month deleveraging phase mirrors conditions last seen in 2022, just before the FTX collapse hit markets. Speculative traders returned to Bitcoin derivatives despite a continued deterioration in the global macro environment. Analysts warn the recovery trend [...]

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