Data: BTC Futures Total Open Interest Drops to $34 Billion, Hitting New Low Since November 2024
Odaily News According to a post by Cointelegraph on the X platform, the total open interest for BTC futures has fallen to $34 billion, a 28% drop compared to 30 days ago, marking the lowest level since November 2024. However, the open interest denominated in BTC has remained stable at 502,450 BTC, indicating that leverage demand has not changed. Part of the decline is attributed to forced liquidations totaling $5.2 billion over the past two weeks.
Weak U.S. employment data and BTC options skew suggest a shift towards a bearish market. Data from the U.S. Department of Labor shows that the U.S. economy added only 181,000 jobs in 2025. The annualized funding rate for BTC futures has been below the 12% neutral level for the past four months. Deribit's BTC options delta skew has risen to 22%, indicating a premium for bearish (sell) instruments.
Despite derivatives indicators showing weakness, the average daily trading volume for U.S. spot Bitcoin ETFs reached $5.4 billion, contradicting speculation of waning institutional demand.
