BTC & ETH Open Interest Plummets as Crypto Markets Take a Breather

Market cools off as traders pull back from Bitcoin and Ethereum futures.

Open interest drops signal reduced leverage—or just Wall Street bankers taking early vacations?

Bullish momentum stalls, but crypto's never down for long. Watch for the next liquidity surge.

Analysts cite increased market volatility

XRP futures volume is significantly higher at $8.4 billion compared to spot volume of $1.7 billion. That disparity indicates that traders are more actively involved in derivatives than simply buying or selling the token outright.

Open Interest (OI)  is at approximately $3.40 billion . This indicates that a substantial amount of capital is tied up in open futures positions. To that end, many traders still have bets open on the future price movement of XRP rather than exiting.

On the other hand, XRP has recorded $16.36 million in net outflows. This is part of a continuous streak of red prints since mid-October. This suggests that tokens are being transferred to exchanges, typically a precursor to selling activity rather than accumulation. Persistent outflows reveal a distribution phase where traders prepare to exit rather than hold for appreciation.

According to analysts, the high futures activity signals strong speculative interest. As a result, this could lead to increased volatility. On the flip side, the price may overreact to sentiment shifts, news, or technical triggers. 

Meanwhile, the support zone is between $2.10 and $2.25. If the price falls below this level, it could speed up the drop toward $1.8–$1.9. This is where most of the buying interest was before. There is resistance at $2.5, then at $2.68 and $2.95, where the descending trendline continues to stop advances.

The market is still skewed downwards until XRP breaks back above the trendline. Bulls need a strong daily close above $2.50 to take back control and put things back in order. If that doesn’t happen, the overall trend is for prices to decline as traders continue to liquidate their long positions gradually. The coin is down 8% in the last week, currently trading at 2.26.

BTC and ETH open interests decline as markets cool down

Bitcoin has seen a major net reduction. Open Interest has fallen by $59.87 million, following a massive $957.43 million drop the day before. This two-day sell-off indicates a strong wave of risk reduction and long liquidation in the king of crypto.

Binance Traders Pile into XRP as BTC & ETH Positions Unwind

“Traders are using these slight dips to add positions, showing conviction that contrasts sharply with the fear gripping BTC and ETH markets.” – By @Crazzyblockk pic.twitter.com/QdXlsJCV2L

— CryptoQuant.com (@cryptoquant_com) November 6, 2025

Ethereum is experiencing a pronounced exodus amounting to $148.69M. Another $783.52 million loss indicates a heavy deleveraging event and a search for a SAFE haven.

As reported by Cryptopolitan, BlackRock’s iShares Bitcoin ETF (IBIT) recorded outflows of more than $375.5 million. In total, ETH spot ETFs experienced outflows of $119M.

According to data from Farside, investors have withdrawn a total of $2.6 billion from U.S. Bitcoin and ethereum ETFs over the past seven days. As a result, the coins are experiencing a downward trajectory. Bitcoin is down 1.7% in the last 24 hours, now trading at $101,809. Ethereum is also down 2.3% in the last 24 hours, currently trading at $ 3,301.

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