Bitcoin Open Interest Falls 5.82%, Leading Five-Asset Declines

Bitcoin (BTC) led a decline in perpetual-futures open interest across five crypto assets Oct. 22, with its 5.82% drop outpacing losses in Ether, Solana, XRP and Dogecoin. At 7:05 a.m. ET (11:05 UTC), Bitcoin’s mark price was $81,930 and open interest totaled $7.62 billion. Its funding rate was -0.0024% every eight hours, or -2.7% annualized. Accounts were 64.5% long and 35.5% short. Open interest measures the dollar value of outstanding derivatives contracts. Funding is a recurring transfer between traders holding opposite perpetual-futures positions; a positive rate means long traders pay short traders.