The #Perpetual Market Directional #Premium continues trending lower, reflecting sustained reduction in #bullish positioning as leverage and conviction cool alongside the broader pullback. #Premium compressed further toward cycle lows, speculative long exposure continuing to unwind, derivatives traders remaining cautious with leveraged upside demand subdued. While reflecting weakening momentum, excess leverage is being flushed from the system. Stabilization here could signal derivatives positioning approaching more neutral footing. #crypto

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