📊🤔 #BTC C.Q.: The current Open Interest (OI) volume in BTC is higher than during the 2021 bull cycle and comparable to the 2022 bear cycle.

Let me emphasize once again: traders have become more cautious and less willing to take risks.

By the way, in a bear market, OI tends to grow because shorting BTC during a bear market can be just as rewarding as buying coins at the bottom on spot and selling them at the cycle's peak.