Yesterday, the Bitcoin futures open interest plummeted over 30%, and the funding rate turned significantly negative
According to Tide Capital, the open interest (OI) of Bitcoin futures has dropped to 25.8 billion US dollars, a decrease of more than 30%. At the same time, funding rates have turned significantly negative and many leveraged long positions have been liquidated, causing significant market volatility. The phase of rapid market decline may have ended.
According to Coinglass data, the exchange's BTC contract holdings have now rebounded to 27.445 billion US dollars.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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