Glassnode’s senior researcher has pointed out how Bitcoin perpetual futures market is looking like a “ghost town,” with Open Interest continuing to be at muted levels.
Bitcoin Futures Open Interest Has Remained Low Since October Reset
In a new post on X, Glassnode senior researcher CryptoVizArt.₿ has talked about the recent trend in the Bitcoin Open Interest for the perpetual futures market. The “Open Interest” refers to an indicator that measures the total amount of positions related to the asset that are currently open on all centralized derivatives platforms.
When the value of the metric rises, it means the investors are opening new positions related to the asset. Generally, new positions come with fresh leverage for the sector, so the cryptocurrency’s price can become more volatile following an increase in the Open Interest.
On the other hand, the indicator going down suggests the perpetual futures traders are either closing up position of their own volit
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