Data: The open interest of Bitcoin futures contracts is currently reported at 68.47 billion USD, a decrease of over 27% from the historical peak

ChainCatcher news, according to Coinglass data, the total open interest of Bitcoin futures contracts across the network is 640,840 BTC (approximately $6.847 billion), down about 27.2% from the historical high of $9.412 billion.

In addition, the total open interest of Ethereum futures contracts across the network is currently reported at $42.25 billion, down nearly 40% from the historical high of $70.13 billion on August 23.

The simultaneous decline of market prices and open interest typically indicates that traders lack confidence in the current market direction, opting to wait and reduce leveraged positions. Once the open interest of futures contracts rises, it usually leads to significant market volatility.