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The index measures shock-amplification capacity, exposing funding risks that can build while spot demand remains firm.

The plan would lift WBTC and cbBTC borrowing limits while shrinking the simplified maximum-leverage price cushion from 6.4% to 4.7%.

The funds pulled in about $1 billion as Bitcoin broke above $86,000, with BlackRock, ARK and Fidelity leading the surge.

The cash-settled contracts would offer price exposure without ownership or delivery of the underlying shares.

Spot taker flow and realized-cap growth improved while futures exposure and profit-taking climbed with the rebound.

Qualified investors in Russia can now gain continuous exposure to five major cryptocurrencies through Moscow Exchange without buying or holding the underlying assets.



