Agreed! I really don't understand why people are rallying to purchase BTC on news of BTC futures. What's important to note is that bitcoin futures add no real demand, for BTC. The futures market gateway is not a glidepath for institutional investors to buy bitcoin (thus driving up demand), but speculate in a derivative which does not impact BTC demand.

It's just a way for institutional investors to get some exposure in a more conventional and regulated market space... and as you said, this is a huge problem, with futures making shorting much easier. I'm strongly considering on deleveraging my position in crypto soon... but at the same time... this is crypto and everything could go parabolic as a result.