The Future Open Interest Perpetual Index’s value has remained at a low value for 4 consecutive days and has witnessed a constant decrease since the 11th of April. There was only $10B in the value of this Open Interest Perpetual Index on the 21st, while the above variables show the total future trading volume on this day was $41B.
This means the future traders on the 21st were very aggressive which resulted in the trading volume spike up to $41B, but at the end of the day, most of the future orders were liquidated and closed manually, and the remained trading volume in this day was expressed by the Open Interest Perpetual Index with just only $10B. In short, the future market seems to be diametrically cooled down after the huge liquidation.
