It's the spot market that drove today's push higher. It's not even liquidity hunting either because whoever is bidding doesn't seem to care about perp positioning. Perhaps it's simply new year spot positioning. $BTC
$HYPE open interest is at an all time high now (in coins). I think that $20 is where it might start bottoming out. Probably gonna take a while though. Otherwise I would look for a double bottom around $10.