Bitcoin futures open interest contracted 1.88% to $52.04 bn on Friday, Nov 6, 2026, as the leading crypto asset fell nearly 5% to $75,783, according to analytics platform Coinglass. The decline was observed across major derivatives venues, with Binance, CME and Bybit all reporting reductions in exposure. The drop in open interest reflects both the closing of positions and the impact of Bitcoin’s lower price on dollar‑denominated contracts.

BTC / USD
Source: CoinGecko. Prices are indicative.

Futures exposure across exchanges

Coinglass data showed aggregate futures open interest at 686,570 BTC, valued at roughly $52.04 bn. Binance held the largest share at $10.58 bn (20.33% of total), followed by CME with $7.13 bn and Bybit with $6.11 bn. Binance and CME each saw daily contractions of about 4.45%, while Bitget’s exposure fell 4.96%. Gate was the only outlier, posting a 5.21% increase. The overall reduction suggests traders are scaling back leverage as Bitcoin retreated from a week‑high of $81,105 on Bitstamp.

Options market shows mixed signals

While calls represent 56.27% of outstanding Bitcoin options positions (229,582 BTC), put trading volume dominated the last 24 hours, accounting for 52.05% of activity (55,139 BTC) versus 50,796 BTC for calls, Coinglass reported. The largest displayed options on Deribit were a Dec. 25 $80,000 call (8,143 BTC) and a $100,000 call (6,737 BTC), indicating continued bullish exposure. Conversely, the most actively traded contracts were November puts: a $74,000 put led with 2,259 BTC, followed by $69,000 and $75,000 puts. These strikes sit at or below Bitcoin’s current price, suggesting traders are hedging or speculating on downside moves.

What to watch next

Analysts will monitor the upcoming November 27 and December 25 expirations, where max‑pain calculations place settlement near $76,000 on Deribit and $80,000 on Binance. A further decline in futures open interest could signal deeper risk‑off sentiment, while a shift in options volume toward calls might indicate renewed bullish expectations. Additionally, CME options open interest remains below its February‑March 2026 peaks, offering a gauge of institutional positioning as the market approaches year‑end.