Bitcoin Open Interest Reaches Lowest Level Since August
Bitcoin Open Interest Hits New Low
Decline in Bitcoin Open Interest
Recent data from Glassnode reveals that Bitcoin's open interest (OI) has plummeted to its lowest threshold since August. The current measure shows 413,000 BTC, equating to approximately $36 billion.
Open interest captures the total allocation of funds in active futures contracts, serving as an indicator of the leverage present in the bitcoin ecosystem.
These contracts, expressed in USD, see their values fluctuate with the price of bitcoin. To obtain a more precise picture unaffected by price variations, open interest is evaluated in bitcoin terms.