Do you feel the crisis? The BTC price is around 60,600 as of October 3, but the total futures open interest is $1.15 billion higher than before, indicating that there are currently a large number of long orders in position.

Relatively high positions at the same price are not a healthy performance. To some extent, it shows that the spot market is suppressing prices, while the futures market is trying to take over the prices. Once a certain critical point is reached, it will trigger a chain of liquidations or stop losses.

At the same time, higher futures open interest will cause the price to rebound weakly, because futures bulls have many locked positions that need to be closed, which will further lead to a vicious cycle. $BTC $ETH