Bitcoin Open Interest Drops to Six-Month Low as Price Falls 20% in a Month

Bitcoin open interest has contracted sharply during a month-long price decline, posting the steepest 30-day drop of the current cycle, data show. The cryptocurrency has fallen roughly 20% over the past month to trade around $86,100, down more than 30% from its early October record above $126,000. Approximately 1.3 million BTC in open positions have been eliminated, driven largely by activity on Binance.