Altcoins are having a rather interesting moment. Open interest once climbed close to $80 billion toward the end of last year, then plunged sharply along with the market. After that wipeout, it took a long time for this indicator to recover. But the end of the chart tells a very different story—OI is now surging rapidly and has stabilized around $55 to $57 billion, while BTC’s price on the chart has also returned to the $80K range. I find this section more interesting than just watching altcoin prices alone. Money and leverage are clearly returning to the derivatives market. The next chapter could be very exciting if prices keep rising—but it could also get painful if this new wave of leverage gets wiped out. 😅