CoinVoice recently learned that according to a Glassnode analysis report, the open interest of Bitcoin perpetual futures in 2024 basically fluctuates between 220,000 and 240,000 BTC. This value usually drops rapidly during deleveraging events and rises during periods of strong speculation, but recently the open interest has risen to the range of 260,000 to 280,000 BTC, indicating that speculative demand has increased since the beginning of June, with Binance, Bybit and OKX accounting for about 84% of the market share.
Previously, when BTC prices fell to the $53,000 area, it led to a meaningful deleveraging event, and many long-biased traders were liquidated near the lows, but the subsequent rebound price recovery was also very strong, returning most short-term holders to unrealized profit status, which provided much-needed financial relief for the net positive capital inflows in recent weeks. [Original link]
