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But we saved everything 🙂.
Joao Wedson observes that aggregated open interest has been falling since May 5.
He highlights that this decline indicated institutional positions were being closed, while many market participants tend to focus mainly on price instead of other important metrics such as open interest.
Wedson previously noted that large trades on Binance Perpetual have influenced bullish sentiment in the crypto market earlier this year. He has also highlighted that on-chain volumes for USDT and USDC remain below late 2021 levels in a recent analysis. These observations follow his ongoing focus on shifts in market metrics beyond price alone.