Adding another CME futures open interest data point Here, there's actually a divergence between open interest and price. On 10/6, $BTC price hit a new high of 126k, but the peak in open interest was on 7/16. After that, the price hit two higher highs, while open interest showed a downward trend, hinting that as the price rebounds to higher levels, long positions are retreating. At the same time, the chart also shows a large-scale short position buildup happening on 10/27.