Bitcoin volatility index drops to 47%, futures open interest falls back to early June levels

Odaily reported that BVIV has fallen back to 47%, pausing its previous two-week rally, indicating that traders are betting on a more stable market environment. However, most of the derivatives data for the top 25 tokens by market cap shows that bearish positions still dominate price trends. Bitcoin and Ethereum futures open interest has dropped back to levels seen at the beginning of the month, reflecting trader caution. SOL and AVAX positions have raised questions about the sustainability of the recent rebound. The altcoin market as a whole is trading sideways, with investors waiting for Bitcoin's next move. The CoinMarketCap Altcoin Season Index remains at 49/100.