What is this indicator?
Shows the total number of open, unsettled derivative contracts in the futures market. Price and open interest rising together usually makes a trend stronger and more sustainable.
How to read the chart
Sharp changes or a move outside this metric's normal range often coincide with important price turning points, and it's used as a secondary confirmation alongside technical analysis.
Practical tip
On-chain data is best used to complement technical analysis, not replace it; interpreting a single metric in isolation can be misleading.