CoinGlass: Bitcoin futures leverage up 4%, but repeat of October's mass liquidation looks unlikely
- —BTC futures open interest rose 4% in seven days to 650,480 BTC, versus +4.1% before the 2025 crash
- —BTC open interest equals 3.2% of market cap and Ethereum's 10.4%, versus 3.7% and 11.3% in October
- —Deribit BTC funding fell from 26.9% to 7.1% annualized; rates topped 8% on just one of the last 28 days
- —About $487 million of longs were liquidated in 24 hours, or $248 million per 1% drop versus $2.2 billion in October
Why it matters: The FOMC meeting on Oct. 27–28, the $82,300 support and a return of spot ETF inflows will decide whether BTC slides further or reclaims $86,000.
Source: Bloomingbit