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Trading in Bitcoin futures has seen a significant drop in interest, as shown by two key indicators: open interest and activity in these markets.

The present condition has been dubbed “Derivatives Quieten Off” by Glassnode experts after examining the behavior of Bitcoin futures markets.

According to this research, there is little doubt that interest in trading with leverage has fallen considerably since the May downturn, as seen by two indicators: open interest and volumes in futures markets.

Since the fall in May, the first-mentioned and therefore open futures interest has steadied at a level between $ 10.7 billion and $ 13.0 billion, with a few minor variations.

The open interest is down by up to 57 percent compared to the April ATH.

However, consider the volumes in bitcoin futures markets, which have experienced up to two capitulations since May.

As you can see from the graph, there was a minor recovery in June following the first capitulation. Still, it did not endure, and we experienced the second capitulation, which continues to this day.

Futures market volumes are at $ 45 billion per day, down 62.5 percent from the all-time high in May and 49 percent from the June peak, followed by a second collapse.

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