BTC The total open interest is now back to before the big 10th of October flush. But this is the open interest measured in coins (BTC). So in USD terms it's obviously lower as price has fallen since. Still, relative to the total market cap the amount of positions is now at a similar level again. I still assume a lot of this are (comfy) shorts from the same entities that have been slamming billions of spot BTC sells for the past few weeks. Because why not add shorts on top if you're moving price down anyways? Been a lot of "support" shorting with price refusing to punish them so they have been chilling. Good to keep an eye on the areas where a lot of this open interest was added. In case price re-visits those, you could see some of those shorts starting to cover. But you need spot to take over first to get you to those places.(Daan Crypto Trades)