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According to ChainCatcher, the total open interest of Bitcoin futures contracts across the network is 640,840 BTC (approximately $68.47 billions), which is about 27.2% lower than the historical high of $94.12 billions. In addition, the total open interest of Ethereum futures contracts across the network is currently reported at $42.25 billions, nearly 40% lower than the historical high of $70.13 billions on August 23. The simultaneous decline in market prices and open interest typically indicates that traders lack confidence in the current market direction, opting to stay on the sidelines or reduce leveraged positions. Once futures open interest rises, it usually brings significant market volatility.

BlockBeats News, October 19, the crypto market remains volatile. Bitcoin is consolidating at $107,000, while Ethereum is holding steady at $3,900, with both posting less than 0.3% change in the past 24 hours. The total cryptocurrency market capitalization is currently reported at $3.723 trillion, down 0.2% in 24 hours, and has dropped about 14% from $4.32 trillion before the crash on October 9. Some altcoins have seen slight rebounds, including: WAL is up 12.3% in the past 24 hours, currently at $0.24; MITO is up 12.1% in the past 24 hours, currently at $0.125; PUMP is up 8.2% in the past 24 hours, currently at $0.038; AXL is up 6.2% in the past 24 hours, currently at $0.2; COMP is up 4.94% in the past 24 hours, currently at $35.4.