BTC and ETH futures OI have contracted by $6B and $3.1B, respectively, since their peaks in November.

📊 Futures OI Leverage Ratio Continues To Climb The Futures Open Interest Leverage Ratio for BTC...

About two weeks ago we reintroduced the topic of altcoin OI dominance in one of these posts as it pertains...A short TL:DR from that post can be found below: At the time of writing the above, altcoin OI dominance...During this same time however, we have altcoin OI dominance reach extreme levels of 34%-35%.

One of my favorite ways to assess the high level trend is to look at OI dominance split between BTC,...We can clearly see there is typically a plateau area with regard to Altcoin OI dominance....We rarely see Altcoin OI dominance exceed roughly 33%-35% for extended periods of time over the last...

...will be an increase in the average size of market buy orders without subsequently large increases in OI...OI changes are by definition the actions of other market participants....Price levels with high degrees of OI can also be used to create support & resistance areas....Remember, an increase in OI means an increase in market activity at that price level.

Data Digest Change in BTC options OI by strike price Deribit futures flash crash amidst put buying BTC...OI declines with price, but volume increases BTC options implied volatility rockets Key Takeaways...If volume and OI rise together, it’s a sign of a strong trend in price....If volume and OI decrease together, it signals an imminent reversal in price.

When looking at the total BTC OI across major crypto-native exchanges, we can see that there is about...$11Bn in current OI....When looking at the CME BTC OI, we can see a similar number as the CME accounts for nearly half of global...BTC OI....https://x.com/3xliquidated/status/1798020657609101628 It is safe to assume that a fair amount of CME OI...

After the liquidation event, BTC futures OI currently sits at $21.75b at the time of writing this report...OI has been reset to pre-Coinbase hype levels (i.e. end of March) and funding is close to flat.

ETH and BTC OI have been mirroring each other from July until End of September....BTC OI is still 30% away from May highs, suggesting that markets have yet to reach a state of euphoria...This big difference in BTC & ETH OI suggests that speculators are anticipating more upside in BTC...

...market is painting quite the bullish picture indeed… Outside of BTC, the biggest relative changes in OI...over the last week have been led by LINK, SOL, and WIF — with LINK’s OI jumping more than 40%....An example of this can be seen with $LINK and the OI increases over the last week, following last week...

Change in BTC options OI by strike price. Deribit futures flash crash amidst put buying....BTC OI declines with price, but volume increases. BTC options implied volatility rockets.

It also went on to cement the largest positive divergence against BTC-based options OI in history, with...Although OI in ETH-based futures has never exceeded the OI in BTC-based futures, the ratio between the...Glassnode, on August 12th (and then once again in the week before The Merge), the ratio between ETH futures OI...

Options Market Showing Signs of Life As mentioned yesterday, BTC futures OI is slowly ticking up....BTC options OI is also starting to rise, adding almost $2 billion of fresh contracts in the last week...OI rising in tandem with price is a sign that traders are still structurally bullish on BTC.

The open interest (OI) for both tokens also dropped significantly with OI for LDO decreasing from a high...of $100M to $60M and OI for GALA decreasing from a high of $176M to $133M.

...both BTC and ETH markets, this chart depicts this from a different perspective, with open interest (OI...The two largest exchanges by volume, FTX and Binance, saw the biggest drops in OI, as one would expect...Between these two exchanges, OI has declined by nearly ~$1Bn, with the total decrease across all exchanges...

The $170M in OI coupled with extreme negative funding rates help substantiate the claim....Yet, the OI on the contract never exceeded $14.4M....The open interest (OI) was range-bound, but the average funding rates were negative....The OI at the time was $117M....On the unlock day, OI dropped to $84M, and funding started turning negative.

Market Dynamics The aggregated open interest (OI) on LTC’s perpetuals rose from a low of $120M to a...The price rallied 128% from low to high, whereas OI increased by 216% over the same period....The increase in OI might seem a bit too high....However, we have to account for the fact that the OI low was measured after one of the biggest deleveraging...

Binance’s Cash Margined OI Back to Pre-Correction Binance’s BTC open interest took a hit with the recent...sell-off, and cash-margined positions have led to the recovery in OI....Cash margined OI recovered to pre-correction levels, while crypto margined OI is relatively flat.

These types of indicators only work with exchanges that report OI data rapidly, and even then it is not...When looking at OI, NL, and NS from May 26th, we can see Bybit OI increasing steadily while BTC price...In addition to increasing OI, we can see a relatively flat trajectory of NL, meaning that not many new...

BTC Open Interest Climbs, Funding Rate Slows BTC perps open interest (OI) has started to recover following...In USD terms, BTC perps OI remains ~28% below its November high while BTC is down ~30% from its recent...(However, if measured in BTC terms, perp OI is back to prior highs as the recent pickup in OI has coincided...