$BTC

On November 29, the total open interest (OI) for Bitcoin futures amounted to ~$61 billion, down from a record ~$64 billion the previous week. This is according to data from Coinglass.

Data: Coinglass.

Over the past five weeks, the metric has increased by more than half. Bitfinex stated that this does not pose a risk of an imminent market correction, referring to the rise in OI as 'organic'.

In their opinion, the dynamics are based on expectations of future price growth.