According to the source, BTC derivatives activity may take two quarters to recover after the Oct. 10 flash crash that wiped out about $19 billion in open interest, said Max Xu, Bybit’s derivatives operations director. Recovery may not arrive until Q2 given the single-session removal of roughly $19 billion in BTC derivatives open interest on Oct. 10, said Max Xu of Bybit.

According to Crypto Rover (@rovercrc), Ethereum experienced its worst Q1 in history. Traders are now hopeful for a strong recovery in Q2, as market conditions are expected to improve. This perspective suggests that traders should closely monitor Ethereum's market movements and potential recovery signals in the upcoming quarter.