Analysis: Bitcoin returns to $93,000, but the open interest in BTC and ETH at the CME falls for both

According to CoinDesk, the cryptocurrency market has seen a much-needed rebound, with Bitcoin prices rising by 6.6% in 24 hours to reach $93,000. However, on the Deribit platform, the bearish options for BTC and ETH are still trading at prices higher than the bullish options.

Additionally, the open interest for Bitcoin futures on the Chicago Mercantile Exchange (CME) has dropped to 121,670 contracts, the lowest level since February 2024. The open interest for Ethereum futures has also decreased, with the open contracts falling to 1.95 million ETH, the lowest level since September.