Analysis: Demand for Bitcoin futures has fallen to its lowest level since 2024.

PANews reported on March 3rd that, according to Cointelegraph analysis, demand for Bitcoin futures has fallen to its lowest level since 2024, indicating that many institutional traders remain cautious. Data shows that the total open interest in Bitcoin futures contracts on major exchanges fell to $32 billion on Sunday, a 20% decrease from a month ago. Open interest in BTC-denominated contracts fell to 491,300, the lowest level since August 2024. The annualized premium for monthly Bitcoin futures contracts fell to a one-year low of 2%, well below the neutral range of 5%-10%, and has consistently failed to maintain bullish levels over the past 12 months.

Despite declining demand, analysts believe it's premature to conclude that institutions are leaving the market. The daily trading volume of spot Bitcoin ETFs still exceeds $3 billion, publicly traded companies hold over $79 billion in on-chain positions, and CME futures open interest remains at $7.5 billion – all clear signals of institutional participation. The options market also shows no sustained pressure, with demand for put options lower than for call options. Analysts point out that although bullish sentiment is weak, the market remains balanced, and as more buyers return, fear and uncertainty will eventually dissipate.