After the flash crash on October 11, the open positions of Bitcoin contracts significantly decreased, now reported at 68.47 billion USD.

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On October 19, according to Coinglass data, the total open positions for Bitcoin futures contracts across the network were 640,840 BTC (approximately 6.847 billion USD), a decrease of about 27.2% from the historical high of 9.412 billion USD on October 7. In addition, the total open positions for Ethereum futures contracts across the network were reported at 4.225 billion USD, down nearly 40% from the historical high of 7.013 billion USD on August 23. The simultaneous decline in market prices and open positions usually indicates that traders lack confidence in the current market direction, opting to observe or reduce leveraged positions. Once the open positions of futures contracts increase, it typically leads to significant market fluctuations.

BTC0.54%
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