According to the latest data from crypto analytics platform Coinglass, the aggregated open interest for Bitcoin (BTC) futures and perpetual contracts across all exchanges declined by 5.37% in the past 24 hours, bringing the total to $45.539 billion. This movement suggests that a substantial amount of leveraged positions were closed, either voluntarily or through liquidations, leading to a reduction in overall market exposure.
Looking at the breakdown by major centralized exchanges, Binance held the largest portion at $8.447 billion, accounting for approximately 18.55% of the total open interest. It was followed by Bybit with $4.171 billion, OKX with $2.657 billion, and Gate with $3.323 billion. The simultaneous decrease across these platforms indicates that the contraction was not driven by isolated events on a single exchange, but rather reflects a broad-based unwinding of positions. A decline in open interest typically points to a cooldown in both long and short positioning, though the raw data does not reveal the long/short ratio or the amount of forced liquidations behind the change.