Data shows that the total open positions of Bitcoin contracts across the network have decreased by about 30% from the peak earlier this year

According to Coinglass data, the total open interest in Bitcoin futures contracts across the network is 737,540 BTC (approximately $6.654 billion), down about 30% from the peak of $9.412 billion on October 7.

A decline in open interest in futures contracts usually indicates that the overall interest, liquidity, and speculative intensity of market participants are decreasing, which will also lead to reduced market volatility.