Bitcoin Futures Open Interest Don Hit Record 762,700 BTC Amid 10% Price Slump
Bitcoin futures open interest don rise reach record 762,700 BTC, e mean say e grow 13% for two weeks even after price drop 10% to $109,400. The drop follow after one big whale sell-off wey worth $11 billion from $121,000 top. Even with $284 million long liquidations, futures demand still strong. Two-month futures premium dey 8% annualized, and funding rates dey around 8–12%, showing say Bitcoin futures sentiment remain neutral. Put-call skew of 10% mean say bearish pressure still dey. US spot Bitcoin ETFs see $1.2 billion outflows last week. Traders dey watch $13.8 billion options expiry Friday plus potential ETF inflows as catalysts. Futures open interest still show say market dey active, but as leverage high, if price drop below $110,000 e fit trigger more liquidations. Plenty people dey target recovery to $120,000.
Neutral
Di rekod surge for Bitcoin futures open interest dey show say traders serious, but high leverage levels, recent $284 million long liquidations plus 10% put-call skew dey show say bearish pressure still dey. Spot ETF outflows of $1.2 billion and neutral funding rates dey kill optimism, while di $13.8 billion options expiry wey dey come fit cause market wahala. Short term, if e drop below $110,000 e fit cause more liquidations. Long term, fresh ETF inflows and expiry-driven moves fit help market bounce back reach $120,000, balance market outlook well well.