Open interest in BTC perps reached an ATH last Friday

The offshore futures basis has declined below 2% as BTC once again trades below $20k after failing to breach range highs last week.

Both FTX and Binance saw a sharp and sudden decline in their futures premiums following CME’s weekend close on Friday, plunging from 2.5% to 1% as BTC began its downward trend from $22,000.

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