#Bitcoin Futures Speculation Cools Down#

The speculative fervor in the Bitcoin futures market is cooling down. According to data from crypto data analytics firm Glassnode, Bitcoin futures open interest (OI) is showing a decline in speculative momentum. The medium-term trendline (30-day SMA) has peaked and is now slightly declining, while the short-term trendline (7-day SMA) has broken below it. This indicates that traders are closing out positions due to market uncertainty. This trend suggests that traders are cautious about the market outlook and are reducing their risk exposure. This could be due to the recent heightened market volatility and uncertainty in the macroeconomic environment. Although Bitcoin prices have recently rebounded, the market still faces pressure from regulatory, inflationary, and geopolitical risks. Therefore, it is a reasonable strategy for traders to remain cautious in the current market environment and reduce their speculative positions.