Ah, Bitcoin perpetual futures – that once-glamorous playground of the daring and the desperate. But alas, as October’s liquidation echoes in the distance, leverage seems to have vanished, leaving only a faint trace of speculative fever behind. The perpetual futures market, much like an abandoned ballroom after the last waltz, is now decidedly… muted.
It would seem that Bitcoin’s perpetual futures open interest has been a mere shadow of itself, hovering below the 310K BTC mark since October’s “grand reset.” One might say the market has grown a bit… tired of all the drama. Who can blame it? The funding rates, once the toast of the town, have also been plummeting, a clear sign that traders are growing weary of paying for their optimistic bets. After all, who wants to throw good money after bad? 😏
- According to Glassnode’s latest musings, the once-thriving BTC perpetual futures open interest has failed to climb back above 310K BTC since October’s liquidation event. It’s almost as if no one cares anymore. 🤷♂️
- The funding rates? Oh, they’ve been trending lower, signaling that even the most stubborn of leveraged long positions are slowly losing their conviction. No one wants to pay a premium for the ever-distant promise of upside anymore. 🎭
- The “ghost town” vibe in the perpetuals market means we might just be in for a quieter ride. With less volatility, the only thing skyrocketing is the boredom. 🙄
Glassnode’s analysis paints a picture of a market that’s grown disillusioned with itself. Open Interest, that once-glorious measure of speculative fervor, has sunk to subdued levels, barely stirring in the wake of October’s liquidation drama.
PERPETUAL IS A GHOST TOWN
Since the major reset on 10/10, BTC-denominated open interest has fallen and stayed below 310K BTC, unable to recover toward the >380K BTC highs seen earlier in the cycle.
Speculative participation remains deeply muted.– CryptoVizArt.₿ (@CryptoVizArt) December 8, 2025
In a cheeky post on social media platform X (because where else do cryptos and sarcasm live?), Glassnode’s own CryptoVizArt labeled the perpetual futures market as a “ghost town.” How fitting, considering how empty it’s become. The man (or is it the blockchain?) knows his stuff. 😏
Bitcoin perps continue to shed
Once a playground for speculators, the market has lost its sparkle. Open Interest, a measure of positions waiting to be liquidated or settled, took a dramatic tumble following Bitcoin’s price plunge in October. It remained in the doldrums until a brief, almost embarrassing, uptick in mid-November, only to dip again into familiar lows.
And that’s not all, folks. The perpetual futures market is suffering from a severe lack of enthusiasm, and the Funding Rate is taking a steady nosedive. Traders, once willing to pay the price for optimism, have apparently decided to pocket their change and call it a day. Could it be that they’ve finally wised up? 🤔
As Open Interest drops, one can’t help but wonder: will this lull lead to a more stable market? Or is it merely the calm before the next chaotic wave of speculative madness? Only time will tell, but for now, the traders seem content to stay away from the action. After all, why risk it when you can just watch from the sidelines? 🧐
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2025-12-09 14:59