In brief
- Bitcoin futures open interest dropped $1.25 billion to $80.8 billion over recent days, which analysts view as a healthy market reset that purged excessive leverage rather than a bearish warning.
- The drawdown is considered a temporary cooldown following volatility peaks and large liquidations, with Bitcoin maintaining key support around $112,000.
- Future market direction depends on macroeconomic clarity and upcoming consumer spending data, with analysts suggesting dovish signals could drive BTC toward $120,000 while hawkish tones may test $110,000.
There’s been a drawdown in Bitcoin futures contracts over the past couple days, with $1.25 billion worth of open interest leaving the past day—and analysts say that’s good for the BTC derivatives market.
The open interest in Bitcoin futures contracts has sunk to $80.8 billion from $85 billion as of Tuesday afternoon after steadily falling each day since last Thursday,…
