I don't know when was the Bitcoin futures started but this article might explain it:
https://www.coincentral.com/bitcoin-futures/amp/ and it provide details that it's relatively new. Therefore, we can conclude that futures doesn't the one that triggers the bear market. You might have point here now that we have grown and there's more institutional investors involve in this market. I don't think this will be conducive in the future if most are driven or being decisive by trading on futures or leveraged market.
Thank you very much for providing this article. Through this website, I also learned other knowledge.
Well, you're welcome. By the way, I just stumble upon that website this day and I also learn some other things on that article.
The additional negative effect of futures is these greedy traders with huge leverage.
And if you know how the futures market work, like the short position or long position, 'short squeeze/long squeeze' is also affecting the price of Bitcoin, most of them are causing huge candle wicks on the chart.
But the futures market will stay I believe, it's already given, futures market already existing before on different markets.
This derivatives will be the next huge thing for crypto, I believe they are still on the infancy stage. I am seeing a spike of projects being involved on derivatives and they are keep coming, not only that they do the derivative thing but they also combine it with other things such as DeFi, gaming and NFT. It will surely stay in the market.