#Bitcoin Futures Speculation Cools Down#

Signs of cooling speculation in the Bitcoin futures market are becoming increasingly apparent. According to Glassnode data, 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 positions due to market uncertainty. This phenomenon 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, market sentiment remains cautious, and traders are waiting for clearer signals before re-entering the market.