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Markets bounced back on Trump's “largely negotiated” U.S.-Iran deal, but further airstrikes underscore the fragile geopolitical position.
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Perpetual futures are leveraged contracts that allow traders to speculate on an asset's price without an expiration date, meaning they do not need to be rolled over.
Regulated status allows institutional investors, such as family offices and registered investment advisors, to participate in the derivatives market while adhering to compliance frameworks that prohibit the use of unregulated offshore platforms.
Record open interest in ETH terms suggests that speculative exposure is growing despite a weaker spot price environment, though it does not confirm whether traders are betting on a price recovery or hedging against further downside.