Bitcoin Open Interest Plummets to 2024 Lows: Is Traditional Finance Leaving BTC?

Bitcoin open interest drops to $34 billion, raising questions about TradFi's commitment to BTC amidst concerning US economic indicators.

The open interest in Bitcoin has witnessed a significant decline, reaching a level not observed since 2024. Currently, it stands at $34 billion, reflecting a decrease in investor demand and a shift in trader sentiment towards apprehensive US macroeconomic data.

This downturn prompts speculation about whether traditional finance is distancing itself from Bitcoin. As concerns about economic indicators grow, many market participants are reevaluating their positions in Bitcoin, leading to this notable reduction in open interest.