Bitcoin sees largest weekly drop in derivatives

4.2 Markets

Sep 29, 2026

Bitcoin derivatives open interest fell 49,000 BTC in a week, the biggest drop since 2025. Liquidations were moderate, price stayed stable, and leverage hit a two-year low.

The Bitcoin derivatives market saw a notable contraction last week, with open interest in futures and perpetual contracts dropping by about 49,000 BTC. This marks the largest weekly decline since October 2025. Despite this sharp reduction, Bitcoin's price remained stable around $84,070, and liquidations were moderate, totaling $67.6 million in 24 hours. The notional value ratio of futures to the spot market fell to 0.24x, its lowest point in two years, indicating a broad retreat from speculative leverage. A significant portion of this reduction is attributed to the expiration of contracts on the CME. Futures trading volume reached $56.25 billion in 24 hours, while total derivatives exposure fluctuated between $40 billion and $70 billion. The decline occurred without mass liquidations or extreme volatility, suggesting the move was driven by profit-taking and mechanical adjustments rather than forced selling.