BTC Perps are keeping price suppressed. Futures CVD is currently moving lower while open interest has already increased significantly again. This suggests that perps are still heavily leaning short, trying to push price even lower. Spot CVD, on the other hand, has started moving higher since yesterday’s dump, showing that spot demand is returning. If spot participation remains intact while perps continue shorting this aggressively, the risk of those shorts getting squeezed increases significantly.