Open Interest (OI)
Total notional value of unsettled perpetual contracts open in the market.
OI rising while price rises = new money flowing in (bullish). OI rising while price falls = new shorts opening (bearish). OI falling = positions being closed regardless of price direction.
Sudden drops in OI usually accompany liquidation cascades — the chart's sharpest moves often coincide with the largest OI declines.
OI is reported per symbol via the Binance public API and refreshed every few seconds.
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