Bitcoin futures open interest has gone down to $56.6 billion, after taking a plunge at the start of 2025. Since then, BTC OI has not been able to recover and has reverted to its November ATH.
According to data from Coinglass, Bitcoin (BTC) OI has fallen to $56.6 billion on Jan. 3 despite showing signs of recovery just a day prior. On Jan. 1, BTC OI fell to its lowest level in the past two months, only being able to reach a total of $56.03 billion.
Earlier today, BTC OI appeared to give traders hope when it reached slightly above $57 billion, but it has since dropped to $56 billion.
Throughout December, Bitcoin’s total open interest has been reaching new heights. In fact, BTC OI reached it most recent all-time high on Dec. 18 when it peaked at $68.13 billion, with CME being its biggest contributor with $22.7 billion.
Chart tracking BTC OI in the past month, December 2024 – January 2025 | Source: Coinglass
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Since it nearly reached $70 billion, BTC OI has been on a downhill slope that ended on Jan. 1 when it fell to $56 billion.
Bitcoin open interest is a metric used to measure the amount of futures contracts tied to BTC employed through crypto exchanges. The bigger the interest level, the more demand and liquidation that crypto asset has.
At the time of writing, BTC OI has still failed to climb back past the $60 billion threshold. In fact, it has returned to its previous all-time high , which was $57 billion on Nov. 22. So far, it has not showed any signs of recovering any time soon.
Data from Coinglass shows that CME is the biggest contributor for BTC OI. CME currently provides nearly 30% of the total Bitcoin futures open interest with 172,650 BTC OI which is worth $16.7 billion at current prices.
Binance is the second biggest BTC OI contributor, with 21.3% of the total coming from the leading crypto exchange. Binance holds 126.770 BTC OI which is worth $12.3 billion. After Binance, Bybit takes third place with $7.83 billion in BTC OI, equating to 13.5% of the total BTC OI.
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