Bitcoin Futures Open Interest Slips To $7.68 Billion As Traders Keep Funding Positive

TL;DR: A Saturday derivatives snapshot showed Bitcoin open interest at $7.68 billion, down 0.69% in 24 hours. Funding remained positive, but the data does not establish that traders have finished reducing leverage. Bitcoin‘s derivatives market is heading through the weekend with slightly less leverage outstanding, though not with an outright bearish positioning signal. A market snapshot at 11:00 UTC on Saturday, October 17, put Bitcoin futures open interest at $7.68 billion, a 0.69% decline over 24 hours. The same survey recorded a positive funding rate of 0.0035% per eight-hour interval, meaning long positions were paying shorts on the perpetual contracts represented in the sample. Those two readings describe different things.

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