In the wake of Bitcoin's volatile summer, a shift is emerging in the cryptocurrency market. The derivatives market, a key influencer of Bitcoin's price, has shown signs of significant change. As we delve into the complex world of futures, options, and perpetual futures, we reveal how these elements are evolving in sync with Bitcoin. An essential metric offers a unique snapshot of the market's health, exposing potential risks and opportunities. This glimpse into a rapidly shifting landscape poses an intriguing question: What does the decrease in leverage mean for traders and institutions?...