How much did open interest drop?

TLDR

Global crypto derivatives open interest dropped about $24.64 billion (?3.59%) over the past 24 hours (UTC), based on market data.

Assumption: you meant total crypto open interest over the past 24 hours. If you meant a specific asset or window, tell me and Ill adjust.

1. Perpetuals open interest fell from $682.49 B to $657.84 B (?3.61%), aligning with the global move.
2. News this week also noted futures OI pullbacks as altcoins softened, with overall OI near $140 B in some reports per a market update.
3. Funding rates remained moderately positive, consistent with position trimming rather than wholesale shorting per the report above.

Deep Dive

1. Magnitude

Across the market, open interest acts as a gauge of leveraged exposure. Over the last 24 hours (UTC), global OI fell from $685.72 B to $661.08 B (?3.59%), while perpetuals OI declined from $682.49 B to $657.84 B (?3.61%). This indicates a broad reduction in leveraged positioning rather than a single-asset anomaly.

2. Drivers

Position cuts coincided with altcoin drawdowns and modest liquidation waves this week. Reports highlighted over $400 million in 24-hour liquidations and noted OI declines in ETH, SOL, XRP and others, alongside still-positive funding rates and dip-buying in BTC, pointing to reshuffling rather than panic exits per a market update.

1. Liquidations clustered in longs, consistent with profit-taking and risk reduction.
2. OI fell in several altcoins while BTC OI ticked up on positive funding, showing divergent positioning per the report above.
3. Headlines also cited a pullback in overall futures OI to around $140 B as the market cooled intraday per the update above.

Conclusion

Open interest fell roughly $25 billion in the last day as traders reduced leverage, especially in altcoins, while BTC positioning showed selective dip-buying. If you want the figure for a specific asset (for example, BTC or ETH) or a different window (today vs week), I can pull that next.