Bitcoin and Ether Extend Losses as Derivatives Positions Rise

Bitcoin (BTC) and Ether (ETH) extended declines after September U.S. inflation data as crypto derivatives open interest increased and spot Bitcoin exchange-traded funds recorded about $859 million in net outflows over six trading sessions. By midnight ET Oct. 15 (04:00 UTC), BTC was down 3.50% and ETH had fallen 6.27%. Treasury yields rose sharply after the release, then gave back some gains as crypto losses continued. Open interest across major cryptocurrencies increased during the first four hours after the CPI release. Solana (SOL) open interest was 7.95% higher by midnight ET Oct. 15, a sign that leveraged exposure continued to build during the decline. BTC trading volume rose about fivefold in the first 30 minutes after the data. Initial support near $83,000 did not stop the slide.

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