According to The Block data, despite recent price volatility, BTC total unpositioned squaring contracts remained stable at around $29 billion, the lowest level since June. Bitcoin futures trading volume remained around $1.50 trillion month-on-month, indicating that trader engagement continues despite price volatility. Normally, high positions combined with big price rises could signal a "bubble" in the market, where enthusiasm could outweigh underlying values, analysts said. However, for now, positions are stable and prices are rising, suggesting more cautious sentiment.