PANews reported on June 16th that CryptoQuant analyst Darkfost stated in an article on the X platform that the recent pullback in Bitcoin, from approximately $82,000 to below $60,000, has significantly increased speculative activity in the derivatives market. Since the beginning of June, Binance futures daily trading volume has reached peaks of $39.5 billion and $35.5 billion. In early February, when Bitcoin fell below $60,000, it exceeded $42 billion in a single day. In comparison, Binance spot daily trading volume has increased from approximately $1.5 billion to $4-5 billion, but remains far below the peak of over $10 billion in early February.

Darkfost points out that Binance Bitcoin futures' cumulative trading volume has approached $800 trillion, exceeding the valuation of global annual GDP and the global real estate market. While the recent surge in trading activity may have contributed to the formation of a local bottom, market structures primarily driven by leverage are generally more fragile than those supported by strong spot demand.