After the 10/11 Flash Crash, the open interest of Bitcoin futures contracts plummeted significantly, now standing at $68.47 billion.

BlockBeats News, October 19th, according to Coinglass data, the total open interest of Bitcoin futures contracts across all exchanges is 640,840 BTC (equivalent to about $68.47 billion), a decrease of about 27.2% from the historical high of $94.12 billion on October 7th.

In addition, the total open interest of Ethereum futures contracts is currently $42.25 billion, a decrease of nearly 40% from the historical high of $70.13 billion on August 23rd.

A synchronous decline in market price and open interest usually indicates that traders lack confidence in the current market direction, choosing to adopt a wait-and-see approach or reduce leverage. Once the open interest of futures contracts rises, it usually brings about significant market volatility.