Growing interest. Between the long-awaited approval of Bitcoin Spot ETF and the process of halving coming next April on the BTC network, more and moreLeading observers are very optimistic for the cryptocurrency market. And this enthusiasm is also reflected on the side of traders. Indeed, many market players have been betting on Bitcoin in recent days. Hoping for a big price move from the king of cryptoassets?
More than 24 billionOpen Interest on contracts future of Bitcoin
In the futures market (future), open interest (Open Interest) indicates the total number of contracts open and actively held by market participants. So more this Open Interest is important, and the more it indicates that the market attracted an increasing number of participants and/or wealthy participants (institutional investors).
And precisely, the open interest on the market of future of Bitcoin is reaching again all-time high (ATH). As data from Coinglasswe must in fact go back to the strongest of the previous bull run (bull market) of Bitcoin, in November 2021to find such fervor again!
Thus, the total positions opened on the crypto leader cover more than 460,000 bitcoinsthe equivalent of more than $24.1 billion at the time of writing these lines.
Binance and the CME: still the most popular for BTC futures contracts
In detail of open interest on contracts future of Bitcoin, it’s crypto-dung Binance And the CME Chicago Stock Exchange (Chicago Mercantile Exchange) who win the most.
Thus, of the 24 billion dollars ofOpen Inerestthe CME Group concentrates more than 6.8 billion of dollars (130,700 BTC), and the Binance platform attracts $5.9 billion (nearly 113,000 BTC).
This return to previous historical records of open interest on future of Bitcoin is even more impressive that many large investors and institutional players, like Cathie Wood and her ARK Invest fundsprefer pass from Bitcoin futures ETFs to its new spot ETFs validated on January 10.