Open interest in Bitcoin futures has fallen to its lowest point since September 2024, suggesting a sharp decline in speculative activity across crypto markets.
Bitcoin has experienced a significant sentiment reset, declining roughly 25% in the last 30 days. Data indicates futures market participation weakened notably last week, with open interest—representing total outstanding derivatives contracts—at its lowest level since September 2024. The reduction in futures activity highlights cooling enthusiasm among traders after strong speculative inflows earlier in the year.