Bitcoin Futures Open Interest Drops to 5-Month Low as Rally Shows Healthier Footing

BitcoinWorld Bitcoin Futures Open Interest Drops to 5-Month Low as Rally Shows Healthier Footing Bitcoin’s futures open interest has fallen to its lowest level in five months, a shift that analysts say points to a more sustainable market structure behind the recent price rally.

According to data from Glassnode, cited by CoinDesk, open interest now stands at 587,584 BTC, down sharply from 645,760 BTC on Aug. 14.

Leverage Cooling Signals Healthier Rally The decline in open interest comes as Bitcoin’s price climbed from roughly $62,000 to $80,000 over the past weeks.

CoinDesk notes that this upward move was driven more by short liquidations than by an influx of new leveraged long positions. This suggests that the rally is not being fueled by excessive speculation, but rather by a reduction in bearish bets.