Bitcoin Open Interest Rises About $1 Billion During Selloff

Bitcoin open interest rose by about $1 billion during a recent selloff as leverage and derivatives exposure increased.

Bitcoin (BTC) was $75,696 at 2:54 p.m. ET (19:54 UTC) Friday. Funding rates eased before turning higher again.

Open interest tracks derivatives contracts that remain open. Each contract has a long side and a short side, so a higher total does not show which direction traders favor or establish whether demand for spot Bitcoin increased.

TokenPost previously covered a separate rebound in which Bitcoin futures open interest fell 11%.

Enna Lee

Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to [email protected].