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Crypto market gains 17.6% – Why $421B perp volume raises a red flag

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Binance’s monthly report suggests the crypto rally is off to a good start. From a technical standpoint, the total crypto market cap grew by 17.6% to $2.70 trillion, with Bitcoin’s [BTC] price climbing by 24.8% during the last seven days, marking one of the best weekly rallies since 2020. But one crucial change stands out.…