BTC: Positioning Quadrants (All Assets)

Shown as its 2–31 Oct 2026 sample; the latest readings and full history are included with Plus.

How many coins sit in each of four positioning states in each period, from the change of their price and of their perpetual open interest.

Why use it. Price and open interest moving together tell who is driving a move: new positions opening, or old ones closing. When most coins are in one state at once, the whole market is doing the same thing. How to read it. Longs opening: price up and open interest up. Shorts closing: price up while open interest falls (short covering). Shorts opening: price down and open interest up. Longs closing: price down while open interest falls (long liquidations and exits). The stack adds up to every coin with a reading.

Calculation. Per coin and period: the change of its USD price close and of its closing perpetual open interest against the previous period; a coin whose price or open interest did not change is not counted. Source: our own minute-by-minute collection of public futures data across every coin with perpetual futures that CryptoKeyhole covers, from Binance, Bybit, OKX, Deribit, Kraken, Bitfinex, Bitget, Gate, Hyperliquid, KuCoin, HTX, Crypto.com and Coinbase (open interest, funding, and the public liquidation feeds we collect), and our own USD price indexes. Each coin counts with the same values its own charts show. The series start on 24 October 2026, the first day our collection held every coin's open interest, funding, liquidations and price; a coin added later joins on the day its collection begins. A period appears once nine in ten of the coins have published it, so the open hour can trail by a few minutes. Venues we do not collect are not included, so totals understate the whole market.