Bitcoin traded near $77,000 on October 31, but dollar exposure increased on selected derivatives contracts, with Coinalyze reporting $28 billion in open interest. This increase does not measure contract quantities or financial leverage, while $1.53 billion in crypto-wide liquidations over 24 hours, including 84% in long positions, were not specific to Bitcoin. US spot Bitcoin ETFs recorded $643 million in net outflows during the October 30 session, and perpetual-contract funding remained positive but subdued. The employment report scheduled for November 6 could shift interest-rate and financial-conditions expectations, making a recovery driven by expanding positions rather than spot demand more vulnerable.
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