Bitcoin Futures Open Interest Hits Record $40.5 Billion, Reports CoinGlass
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Bitcoin derivatives have reached new heights as open interest (OI) in Bitcoin futures hit an all-time high of $40.5 billion on October 21, according to a report from CoinGlass.
Data shows that the Chicago Mercantile Exchange (CME) holds the largest share of Bitcoin futures open interest, accounting for 30.7%.
This is followed by Binance, with 20.4%, and Bybit, with 15%.
The surge in open interest coincided with Bitcoin’s price approaching the $70,000 mark.
Open interest refers to the total value or number of outstanding futures contracts that have not yet expired.
It serves as a key indicator of market activity and investor engagement in Bitcoin derivatives.
A rise in OI can signal increased leverage in the system, potentially leading to greater market volatility.
Periods of high open interest can lead to significant market movements, particularly when prices shift sharply.
#Bitcoin open interest exceeds $40 billion for the first time.
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