According to ChainCatcher, CryptoQuant analyst Darkfost points out that the market is currently experiencing the largest 24-hour open interest growth in recent times. Historically, derivative-driven increases often lack sustainability.
During the strong bull market phases in November and December 2024, open interest grew by 16% and 15% respectively, with the spot market's positive momentum strongly supported by derivative market activity. However, this time the price has only risen by 4.2%, compared to similar past events that led to price increases of 10% and 7%. This difference indicates that selling pressure in the market remains strong.




