Crypto Pulse Update 📈 🚨

The crypto market just delivered a much-needed rebound — Bitcoin surged ~6.6% in 24 hours to hit $93,000.

But despite the bounce, some red flags remain 👇

On Deribit, bearish put options (for both BTC and Ethereum) are still trading at a premium compared to calls — indicating many traders are hedging for a possible downside.

Meanwhile, open interest in futures is shrinking: BTC futures on CME Group dropped to 121,670 contracts — the lowest since February 2024. And ETH futures open interest fell to 1.95 million ETH, the lowest since September.

🔎 What this suggests:
The rebound might be more of a short-term relief rally rather than a full reversal. Heavy demand for puts + decreasing futures open interest hints that institutional/informed investors remain cautious.

🧠 My take
This setup screams “wait-and-see.” BTC at $93 K may attract retail excitement, but the risk-off sentiment among experienced traders suggests any further upside might be fragile — or at least volatile.

🎯 What to watch next:

Deribit’s put-call skew (if puts stay heavy, market still hedging).

CME open interest — if it rebounds, that could signal renewed conviction.

Price action around support/resistance zones: a break above $95–$100 K could trigger bullish momentum, but a drop below $90 K might trigger bearish blow-off.