Bitcoin [BTC] Futures: Key metric touches historic low as traders shift from volatility

Bitcoin's utility in the futures market has been affected by the FTX crash, resulting in price volatility. Recent data shows a decline in crypto-margined collateral.

is inherently more volatile. Also, fluctuations in their underlying value could magnify deleveraging events.

The Percent Crypto-Margined Futures Open Interest Metric represents the percentage of futures contracts’ open interest that is backed by cryptocurrencies instead of conventional fiat currencies. In April, the Open Interest hovered around $12 billion and $11 billion but eventually decreased to $10 billion.

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