Combined open interest across CME Bitcoin futures and perpetual futures has plunged by roughly 49,000 BTC over the past seven days, marking the biggest weekly decline since October 2025. This deleveraging occurred with comparatively contained Bitcoin volatility and modest liquidations, which is unusual compared to the October 2025 event. CoinGlass data shows total Bitcoin futures open interest at approximately $52.89 billion, with Bitcoin trading near $84,070. The seven-day measurement includes the expiration of CME’s September Bitcoin contract on September 25, meaning some of the CME open interest reduction may be mechanical.