Bitcoin Futures Open Interest Drops 30% to 737,540 BTC (About $66.54B) per Coinglass Data

COINOTAG News reported on November 18 that, according to Coinglass data, the total open interest in Bitcoin futures stands at 737,540 BTC, equating to roughly $66.54 billion. This marks a decline of about 30% from the October 7 peak of $94.12 billion, indicating a cooling backdrop for BTC futures activity.

In traditional futures analysis, a retreat in open interest often signals easing market participation, diminishing liquidity, and softer speculative pressure, which in turn can compress near-term volatility and narrow funding rates for cryptocurrency derivatives.