Matrixport: The overall market is still in risk-averse mode and needs to wait for clearer macroeconomic signals

Odaily News Matrixport released today's chart saying that we are witnessing a sharp drop in futures open interest (OpenInterest) as prices fall, indicating that some traders are unwinding their long positions amid uncertainty over the escalating trade war and the Fed's continued hawkish stance.
It is worth noting that Ethereum's open interest has fallen back to its lowest level since the summer of 2024. Although Trump recently mentioned on Twitter that a Strategic Bitcoin Reserve may be established, and the White House Crypto Summit will be held on March 7, the market as a whole is still in risk-off mode, and investors have cut their risk exposure. Many traders seem to be waiting for clearer macroeconomic signals before re-establishing long positions.