BTC open interest jumps amid sell-off, signaling renewed long positioning

Leverage in the crypto futures market has expanded as Bitcoin selling pressure continues, Glassnode said. Market data showed Bitcoin open interest rose by about $1 billion during U.S. trading hours as the price fell, followed by another increase of nearly $500 million during U.S. trading hours on Nov. 6. Funding rates briefly edged lower before turning higher again, and Glassnode said the move suggests investors with long positions are starting to re-enter.