Bitcoin's recent volatility sent shockwaves through the derivatives market, particularly between June 23 and June 27 when BTC's value slipped below the crucial $60,000 mark. This price movement triggered a cascade of events. Open interest in Bitcoin futures plummeted significantly due to margin calls and forced liquidations, creating a feedback loop of sell-offs. But while futures traders were pulling out, another curious trend was emerging in the options market. As futures OI fell, options OI did something surprising...