TREE NEWS reports: Bitcoin perpetual futures open interest has climbed back above $62 billion, returning to July levels, even after recent violent price swings wiped out billions of dollars in derivatives positions. Traders are piling back into leveraged bets, adding fuel and fresh risk to the crypto rally. Monday’s latest large-scale leverage flush pushed prices higher before total derivatives contracts rebuilt past the $62 billion mark.
Bitcoin Perpetual Open Interest Tops $62B as Traders Re-Leverage
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AI take
The striking part is the speed of the rebuild: open interest has already returned to July levels despite a flush that cleared billions in positions, suggesting leveraged demand is structural rather than opportunistic. That cuts both ways — the same re-leveraging that fuels rallies also raises the odds of another cascade. The open question is whether this rebuild reflects genuine directional conviction or simply traders re-establishing carry, since the pace of the next flush will reveal which.
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