In a significant development, the open interest in Bitcoin (BTC) futures, specifically those offered by the Chicago Mercantile Exchange (CME), has witnessed a notable surge. Meanwhile, this surge in open interest not only reflects increasing engagement in Bitcoin futures trading but also hints at potential shifts in the broader cryptocurrency market.
So, let’s explore the recent data on BTC futures open interest, and explore the factors contributing to this remarkable uptrend.
Recent Data on Bitcoin Futures Open Interest
According to Coinglass data, the open interest in CME’s BTC futures, which is closely watched by institutional investors, has soared by 6.14% within the past 24 hours, reaching an impressive $3.89 billion. Notably, the total CME BTC open interest has exceeded the 100,000 mark, standing at 109.81k BTC at the time of writing.
Notably, this surge in open interest has driven the total open interest across platforms to 466.98k BTC, with Binance leading the way with an o
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