During the past eight months, data shows bitcoin futures markets and BTC-centric exchange-traded funds (ETFs) have taken deep losses during this year’s crypto bear market.
Bitcoin ETFs and Open Interest From BTC Futures, Options Follow Crypto Economy's Spot Market Decline
Roughly 247 days ago, the total bitcoin futures open interest across 12 different cryptocurrency derivatives trading platforms was $26.73 billion and over the last eight months, bitcoin futures open interest has dropped 60% down to $10.69 billion. Further, the bitcoin exchange-traded funds BITO and BTF have followed bitcoin’s spot market losses, as the bitcoin ETFs have shed between 70% and more than 73% in value since last year’s price highs.
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