The release of data on rising inflation in the US has significantly impacted the cryptocurrency derivatives market. According to the US Bureau of Labor Statistics, in April 2026, the Consumer Price Index (CPI) rose to 3.8% year-on-year, exceeding analysts’ expectations.
This is reported by Finway
Decline in Open Interest on Major Exchanges
Following the publication of inflation statistics, traders began to massively reduce their positions in the Bitcoin derivatives market. According to analysts at CryptoQuant, open interest on major cryptocurrency exchanges such as Binance, Gate.io, Bybit, and OKX decreased by $1.25 billion. The largest reduction was recorded on Gate.io, where the volume fell by $578 million, while Binance lost $473 million. On Bybit, open interest decreased by $123 million, and on OKX, it fell by $75 million.
Causes and Consequences for the Bitcoin Market
Analysts note that the simultaneous reduction of open interest on several major exchanges indicates traders’ desire to minimize short-term risks. This may be related to the uncertainty surrounding future decisions by the US Federal Reserve regarding monetary policy, as rising inflation typically puts pressure on risk assets, including cryptocurrencies.
Experts emphasize that the decline in open interest is not necessarily a bearish signal for Bitcoin. Such dynamics may be related to both the closure of long positions and a conscious reduction of leverage by traders.
“When a significant reduction in open interest occurs simultaneously on several exchanges after a macroeconomic trigger, it often indicates a rapid restructuring of risk strategies among derivatives traders,” analysts noted.
Recall that earlier, experts recorded the emergence of the first bullish market signal for Bitcoin since March 2023.