Growth
BTC Open Interest Rises During Price Decline
Open interest in Bitcoin (BTC) futures rose by 12.1% in BTC terms over 19 days, despite a 5.3% decline in the price from $81,897 to $77,589. Chicago Mercantile Exchange (CME) open interest remained unchanged at 16.6% of the aggregate. Short-term holders, defined as coins younger than 155 days, sold at a loss for the first time since the August low, with a short-term holder SOPR of 0.992 on 30 October, the lowest since July. On-chain cohort data indicates the opposite behavior, with positive cumulative volume delta (CVD) suggesting net aggressive buying at the $76,311 level.