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Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) total open interest (OI) sees sharp decline as whales dump at $44,000.&nbsp; 
According to data provided by the market intelligence platform Santiment, Bitcoin’s total OI declined by 10.4% in the past 24 hours — dropping from $8.1 billion to $7.2 billion. 
After surpassing $44,000 on Dec. 6 the price of one BTC has slipped by 0.6% in the past 24 hours and is currently at $41,950. 
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 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2023/12/Bitcoin-BTC-13.35.16-12-Dec-2023-1024x347.png" alt="Bitcoin’s open interest declines as BTC falls below $42k - 23" class="wp-image-14226317">
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 BTC price and open interest – Dec. 12 | Source: Santiment
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The asset’s market cap currently stands at $822 billion with a daily <a href="https://crypto.news/glossary/volume-in-crypto-trading/">trading volume</a> of $32.1 billion. 
 You might also like: <a href="https://crypto.news/circle-bets-on-latin-america-as-stablecoin-adoption-surges/"> Circle bets on Latin America as stablecoin adoption surges </a> 
As the asset’s OI falls, data provided by CryptoQuant shows that BitMEX whales dumped Bitcoin at the $44,000 mark between Dec. 6 – 7. The recent fall in BTC’s total OI mostly comes from Binance and OKX as the price declines below the $42,000 mark, per CryptoQuant.&nbsp; 
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 https://twitter.com/cryptoquant_com/status/1734421594905464937?s=20 
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According to one analyst, Bitcoin’s recent fall might be short-term and <a href="https://crypto.news/analyst-says-bitcoins-fall-no-reason-to-panic/">investors should not</a> panic. One of the main price movers of the past week, per CryptosRUs, could be the upcoming meeting of high-profile central banks. 
On Dec. 11, the total crypto market capitalization <a href="https://crypto.news/buy-the-dip-calls-on-social-media-surface-market-sees-correction/">witnessed</a> a slight correction as calls for “buy the dip” rallied on social media.&nbsp; 
 Read more: <a href="https://crypto.news/el-salvador-approves-launch-of-bitcoin-volcano-bonds-for-q1-2024/"> El Salvador approves launch of Bitcoin volcano bonds for Q1 2024 </a>

Bitcoin’s open interest declines as BTC falls below $42k

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