Leverage is back on the menu

Today, BTC's perpetual open interest surpassed November highs, indicating that leverage is back on the menu.
Source: Glassnode, Skew

The “boring” market over the last month seems to have attracted traders back to leverage. The aggregated BTC denominated open interest in the BTC perpetuals has climbed back above the November highs, with the BTC denominated OI currently sitting at 258,000 BTC.

Binance’s two perpetuals hold a combined OI of 107,000 BTC, of which 79,000 BTC worth of OI originates from the stablecoin margined perpetual. The leverage in this instrument has now doubled since December 5th.

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