Bitcoin futures commenced 2023 with a fluctuating Open Interest (OI), reaching an unprecedented peak alongside its surge to a new all-time high of $71,400 in March. As Bitcoin prices have somewhat stabilized around $61,000, the futures market appears to be mirroring this trend with OI starting to recover. This scenario highlights an intriguing shift in trader behaviors, particularly in their use of leverage and the growing preference for crypto-margined futures. But with Bitcoin hovering around $61,000, how might this stabilization influence future market dynamics and trader strategies? Discover how major shifts in Bitcoin's price could potentially redefine the entire landscape of the futures market.