Dilution-proof
Interesting price vs open interest divergence
Throughout the 2020 & early 2021 bull run, funding rates were (very) positive, as the market was massively long. During that period, open interest generally went up (green areas) during price rises and down (red areas) during price declines. Since the May 19th massive market capitulation & liquidation event that birthed Bitcoin's first $10k intraday candle, this flipped: price had a downwards consolidation, but open interest is gradually trending up, with funding rates neutral to bearish.