Hello trader friends, I will briefly explain what the open interest (O.I) indicator is.

The O.I (Open Interest) indicator is the total number of futures or options contracts that are still open and have not been closed (settled) at a given time.

Brief Explanation:

O.I up = There is new interest entering the market. Usually indicates that momentum will strengthen (can go up or down depending on the price direction).

O.I down = Positions start to close, the market may lose momentum.

In your chart:

O.I: 2.75B → Total open positions currently.

O.I NV: 5.17M → Nominal value of open interest in USDT.

Example of its use: If the price rises and O.I also rises → the possibility of a strong upward trend.

If the price rises but O.I falls → it could just be short covering or a weak upward trend.