Bitcoin derivatives market cools down... open interest hits a 6-month low

Source: DigitalToday Original Title: Bitcoin Derivatives Market Cooling… Open Interest at 6-Month Low Original Link:

The Bitcoin derivatives market has rapidly cooled down, with open interest (OI) falling to its lowest level in 6 months.

According to the blockchain media CryptoPolitan, long position liquidations are accelerating, causing traders to adopt a wait-and-see approach, and the market is becoming even more subdued following the recent large-scale liquidations.

The Bitcoin open interest has decreased to $30 billion, and at the Chicago Mercantile Exchange ( CME ), it has sharply fallen to $11 billion. This is the lowest level since April 2025, interpreted as a signal that investors are losing confidence in a long-term rise. In particular, the open interest at CME has been continuously decreasing since October 10, and the liquidation of leverage positions continues.

There are still exchanges that hold a significant share in the current Bitcoin derivatives market, but CME's open interest has decreased from $18 billion to $11 billion, leading to a significant drop in trading volume. This reflects the exit of U.S.-based investors, and there are analyses suggesting that interest among U.S. retail investors is also waning.

Bitcoin is trading in the high $80,000s and showing relatively stable movement, but uncertainty in the market remains. Experts have assessed that the possibility of a long-term decline or the start of a new bull market cannot be ruled out.

On the other hand, CME is expected to introduce perpetual trading starting in 2026, which is anticipated to bring about new changes in the Bitcoin derivatives market.