Bitcoin’s weekend rebound faces an $80,400 test after nearly $730 million in ETF outflows

Bitcoin traded near $82,900 in PerpFinder’s Oct. 10, 09:36 UTC snapshot, with traders watching whether the weekend rebound brings fresh leverage or further position unwinding.The same snapshot put Binance BTC futures open interest at $7.70 billion and showed longs receiving funding, indicating negative funding. Saturday’s Deribit expiry has already settled at 08:00 UTC; Sunday’s expiry remains ahead.The rebound’s durability depends on what traders do with leverage: rebuild it, keep closing positions, or hedge against another decline.Futures positioning is the testFunding payments help distinguish those paths: positive funding means longs pay shorts, while negative funding reverses that flow.A recovery with price up, open interest stable or climbing, and funding modest would be consistent with traders rebuilding risk in a healthy way. Price rising while open interest falls would be consistent with position unwinding, including short covering, rather than necessarily showing fresh conviction.Price falling with open interest falling would suggest continued deleveraging. Falling price with rising open interest could indicate new bearish exposure, particularly if funding also turns more...