Perpetual futures positioning has eased off, with the directional premium drifting back toward neutral following the latest pullback 📉. This shift points to fading speculative pressure as leveraged participants scale back instead of adding fresh exposure ⚠️. Previously stretched premiums reflected strong directional confidence, but the current setup signals limited interest in taking on leveraged risk 📊.
The compression also underscores a wider slowdown in futures engagement, as appetite for risk cooled alongside volatility 🔴. Rather than building aggressive short or long positions, traders seem cautious, leading to lighter flows and thinner liquidity 💰. With derivatives momentum fading, spot markets are likely to have greater influence over short-term price action 📈. Overall, the futures market is flashing restraint and reduced conviction in this post-selloff phase ⏸️.