BTC This is actually a very interesting shift. While price pushed higher aggressively, spot demand also increased significantly, which means this move was backed by real buying pressure rather than just leverage. At the same time, open interest has started to cool off after trending higher for days, reducing the amount of excessive leverage in the market. Meanwhile, the funding rate has flipped from positive into negative territory right as price continues moving higher. This suggests that shorts are becoming aggressive again while the market is still showing strength. Overall, the current move looks much healthier as the market has started to deleverage while demand continues to come from the spot side.(Max Trades)