Remarkably stable open interest in the BTC futures market

Open interest in the BTC futures market has remained stable at 360k-380k BTC throughout 2022.
Source: Skew

During bitcoins prolonged consolidation, the open interest in the bitcoin futures market has been remarkably steady.

The 30-day volatility of the BTC denominated open interest sits at 1.5% and bottomed at 1% on March 5th. This is far lower than the previous lows of 2% seen in July, late August, and early December, and overall suggests that activity from traders is unusually low at the moment.

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