Data: The proportion of Bitcoin-denominated open contracts has risen to 33%, which may trigger consecutive liquidations

ChainCatcher news, according to Glassnode data, the Bitcoin-denominated open interest has increased from about 20% of the total open interest in futures contracts since July to 33%, while cash or stablecoin margin contracts still account for 65% of the total open interest.

Research institution Blockware Intelligence indicates that the growing interest in BTC margin contracts may lead to a cascading liquidation that increases volatility, which occurs when multiple liquidations happen consecutively (or when positions are forcibly closed due to insufficient margin), resulting in rapid price changes.