Futures market sheds $2.24B in OI after Bitcoin’s drop to $88k

CME's substantial reduction in OI shows institutions are cautious amid Bitcoin's volatile downturn.

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Bitcoin's sudden nosedive to $88,500 shook the entire crypto world, triggering a wave of liquidations totaling a staggering $1.48 billion. This dramatic turn of events was not just a simple market correction but was fueled by larger macroeconomic uncertainties following Trump's proposed tariffs. As the dust settled, the futures market revealed telling shifts: while Binance's resilience in the face of liquidations amazed many, another major exchange, Coinbase, experienced a shocking 41.1% drop in open interest. What does this stark contrast between exchanges reveal about the different mindsets and strategies of institutional versus retail investors? Discover the insights into how these market players are poised for what comes next...