Key Takeaways
- • Coinglass data shows bitcoin futures open interest fell 1.88% over 24 hours to $52.04 billion (686,570 BTC) as bitcoin declined nearly 5% to $75,783 on Friday, Nov. 6, 2026.
- • Binance held the largest futures open interest share at $10.58 billion (20.33%), followed by CME at $7.13 billion and Bybit at $6.11 billion.
- • Calls account for 56.27% of outstanding bitcoin options positions (229,582.24 BTC), while puts drove 52.05% of 24-hour options volume (55,139.05 BTC), a divergence between existing positioning and recent activity.
- • Deribit's Nov. 27 $74,000 put led 24-hour options volume with 2,259 BTC traded, placing downside strikes at the center of recent activity.
- • Cryptoquant data shows CME bitcoin options open interest well below its February and March 2026 peaks.
Summary
Bitcoin futures open interest fell 1.88% over 24 hours to $52.04 billion, according to Coinglass data, as the leading crypto asset declined nearly 5% to $75,783 at 9 a.m. Eastern time on Friday, Nov. 6, 2026. The decline follows bitcoin's climb to $81,105 on Bitstamp earlier in the week, after which the cryptocurrency retreated to $75,088, a roughly 7.4% drop from that local high. Open interest declined 0.50% over one hour and 0.75% over four hours.
Binance commanded the largest share of aggregate futures open interest at $10.58 billion, or 20.33% of the total. CME followed with $7.13 billion, and Bybit accounted for $6.11 billion. CME recorded a 4.46% daily contraction, nearly matching Binance's 4.45% reduction, while Bitget's open interest declined 4.96% and Gate rose 5.21%. The source notes that falling open interest suggests positions are being closed, but that lower dollar-denominated exposure also reflects bitcoin's weaker valuation, so the figures alone cannot establish the extent of leverage unwinding.
The options market presents a more complicated picture. Calls represent 56.27% of outstanding bitcoin options positions, totaling 229,582.24 BTC, versus 178,421.77 BTC in puts. Recent trading, however, favored puts: over 24 hours, put volume reached 55,139.05 BTC (52.05% of activity) against 50,795.52 BTC in calls. Deribit, the largest crypto options exchange by volume, shows its largest listed position in the Dec. 25 $80,000 call (8,143.1 BTC open interest), followed by the $100,000 call at 6,737.2 BTC and the $60,000 put at 6,629.4 BTC.
Deribit's Nov. 27 contracts dominated 24-hour options volume, led by the $74,000 put (2,259 BTC), the $69,000 put (1,736.8 BTC) and the $75,000 put (1,634.7 BTC). Coinglass expiration statistics put Deribit's max-pain price near $76,000 for its largest notional concentration around Dec. 25, while Binance's largest concentration on Nov. 27 carries a max-pain level near $80,000. The source cautions that max pain is a theoretical settlement level and does not guarantee price gravitation toward it, and that elevated put activity does not necessarily signal outright bearish speculation, since traders may be buying protection, selling puts or closing positions.
Cryptoquant's CME options data shows open interest contracting substantially from elevated February and March 2026 levels, with activity now concentrated in shorter-dated expirations. Coinglass's historical metrics similarly show aggregate futures exposure well below previous peaks, indicating traders have already reduced a substantial portion of earlier exposure. Bitcoin's price remains close to the heavily traded $73,000 and $74,000 November put strikes.
Binance commanded the largest share of aggregate futures open interest at $10.58 billion, or 20.33% of the total. CME followed with $7.13 billion, and Bybit accounted for $6.11 billion. CME recorded a 4.46% daily contraction, nearly matching Binance's 4.45% reduction, while Bitget's open interest declined 4.96% and Gate rose 5.21%. The source notes that falling open interest suggests positions are being closed, but that lower dollar-denominated exposure also reflects bitcoin's weaker valuation, so the figures alone cannot establish the extent of leverage unwinding.
The options market presents a more complicated picture. Calls represent 56.27% of outstanding bitcoin options positions, totaling 229,582.24 BTC, versus 178,421.77 BTC in puts. Recent trading, however, favored puts: over 24 hours, put volume reached 55,139.05 BTC (52.05% of activity) against 50,795.52 BTC in calls. Deribit, the largest crypto options exchange by volume, shows its largest listed position in the Dec. 25 $80,000 call (8,143.1 BTC open interest), followed by the $100,000 call at 6,737.2 BTC and the $60,000 put at 6,629.4 BTC.
Deribit's Nov. 27 contracts dominated 24-hour options volume, led by the $74,000 put (2,259 BTC), the $69,000 put (1,736.8 BTC) and the $75,000 put (1,634.7 BTC). Coinglass expiration statistics put Deribit's max-pain price near $76,000 for its largest notional concentration around Dec. 25, while Binance's largest concentration on Nov. 27 carries a max-pain level near $80,000. The source cautions that max pain is a theoretical settlement level and does not guarantee price gravitation toward it, and that elevated put activity does not necessarily signal outright bearish speculation, since traders may be buying protection, selling puts or closing positions.
Cryptoquant's CME options data shows open interest contracting substantially from elevated February and March 2026 levels, with activity now concentrated in shorter-dated expirations. Coinglass's historical metrics similarly show aggregate futures exposure well below previous peaks, indicating traders have already reduced a substantial portion of earlier exposure. Bitcoin's price remains close to the heavily traded $73,000 and $74,000 November put strikes.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.