Bitcoin Open Interest Stabilizes Around $29 Billion, Lowest Level Since June

Total open interest in BTC has stabilized at around $29 billion, the lowest level since June, despite recent price volatility, data shows. Bitcoin futures trading volume remained around $1.5 trillion YoY, indicating continued trader participation despite price volatility. Analysts say that normally, high positions combined with a sharp rise in price could signal a "bubble" in the market, where enthusiasm may outweigh fundamental value. However, the current stabilization of positions and rising prices suggests that market sentiment is more cautious.