PANews reported on May 22 that CryptoQuant analyst Darkfost wrote on the X platform that Bitcoin traders are returning after approximately eight months of deleveraging. Since the events of October 10th last year, Bitcoin has undergone a prolonged deleveraging phase in the derivatives market, characterized by Binance futures open interest falling below the 180-day moving average. This phase lasted approximately eight months, a situation lasting until the 2022 bear market and the FTX crash. Since the beginning of May, Binance open interest has risen from $6.4 billion in March to approximately $8.96 billion currently, regaining the 180-day moving average of approximately $8.75 billion, marking the end of the deleveraging period. The return of investors to the derivatives market has driven the current upward correction, but this trend remains fragile due to the continued deterioration of the macroeconomic environment.