Bitcoin Open Interest Climbs Nearly Fivefold Since November 2021 as Leverage Hits Record Levels

Bitcoin open interest in perpetual futures peaked in October at nearly five times the level seen at the asset's November 2021 all-time high, according to Joao Wedson, Founder and CEO of Alphractal. Traders, funds, and high-frequency desks have increasingly favored leveraged positions over spot exposure. Current positioning shows long positions at 72.4%, valued at approximately $25.72 billion, with shorts at 27.6%, worth around $9.79 billion.