coin-img-PIPPINPIPPIN+8.12%coin-img-ETHETH+0.26%coin-img-BTCBTC+0.70%coin-img-UCNUCN+0.18%coin-img-SOLSOL+0.96%coin-img-XRPXRP+0.84%coin-img-USDCUSDC+0.00%coin-img-DOGEDOGE-0.63%coin-img-PIPPINPIPPIN+8.12%coin-img-ETHETH+0.26%coin-img-BTCBTC+0.70%coin-img-UCNUCN+0.18%coin-img-SOLSOL+0.96%coin-img-XRPXRP+0.84%coin-img-USDCUSDC+0.00%coin-img-DOGEDOGE-0.63%coin-img-PIPPINPIPPIN+8.12%coin-img-ETHETH+0.26%coin-img-BTCBTC+0.70%coin-img-UCNUCN+0.18%coin-img-SOLSOL+0.96%coin-img-XRPXRP+0.84%coin-img-USDCUSDC+0.00%coin-img-DOGEDOGE-0.63%coin-img-PIPPINPIPPIN+8.12%coin-img-ETHETH+0.26%coin-img-BTCBTC+0.70%coin-img-UCNUCN+0.18%coin-img-SOLSOL+0.96%coin-img-XRPXRP+0.84%coin-img-USDCUSDC+0.00%coin-img-DOGEDOGE-0.63%
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Alexander Stefanov

Bitcoin Derivatives Cool After October 10 Liquidations as Ethereum Perpetual Futures Stay Elevated

On 25 December 2025, data showed Bitcoin's perpetual futures activity falling sharply from peak levels, following a major liquidation event on 10 October that produced the largest open interest drawdown in BTC history. At the same time, Ethereum maintains around 17.5 million perpetual trades on a seven-day average, well above Bitcoin's roughly 13 million, indicating leveraged traders have shifted focus from BTC to ETH rather than exiting the market.
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