$55B in BTC Futures Positions Unwound In 30 Days: Will Bitcoin Recover?

Bitcoin’s struggle to hold above $70,000 continued, with the recent sell-off accompanied by a $55 billion drop in BTC open interest over the past 30 days, rising exchange inflows and concern that a move into the $60,000 range could be next. CryptoQuant data showed roughly 744,000 BTC of open positions were closed in a month, with Binance, Bybit and OKX recording large net declines in open interest.

Analysts cited deleveraging as a driving factor, and BTC futures cumulative volume delta fell by about $40 billion over six months, with Binance derivatives CVD near -$38 billion. Exchange inflows surged in January, totaling roughly 756,000 BTC, and have exceeded about 137,000 BTC since early February.

Exchange reserves rose from 2.718 million BTC to 2.752 million BTC since mid-January, with warnings that further growth above 2.76 million BTC could increase selling pressure.

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