#Bitcoin Futures Speculation Cools Down#

Signs of cooling speculation in Bitcoin futures 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 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. Additionally, the volatility of Bitcoin prices may also be leading traders to reduce their positions. Overall, the trend of cooling speculation in Bitcoin futures suggests that market sentiment is shifting, and traders are becoming more cautious.