Bitcoin has re-entered the greed zone.

When sentiment is above 62 (greed) and below 40 (fear).

"Buy on fear, sell on greed."

Current open interest is $38 billion, just 2.5% below its all-time high reached on March 28, 2024.

This reflects an increase in demand for leverage through BTC derivatives.

High open interest can increase the risk of on-chain liquidations due to unexpected moves.