Bitcoin futures open interest returns to all-time high levels, data shows

Oct 21, 2021 | The Block News | 0 comments

The aggregated open interest for Bitcoin futures across major exchanges has returned to all-time high levels, according to data on Bybt.

As of press time, the total open interest for Bitcoin futures is at $27.2 billion, just shy of the $27.38 billion recorded in mid-April. This comes amid Bitcoin’s rally that has set a new all-time high at almost $67,000 on Coinbase Pro.

The open interest on U.S. derivative marketplace CME has seen the largest jump among major trading venues compared to the records in mid-April when Bitcoin first hit the $64,000 level. The Bitcoin futures open interest on the marketplace is now at $5.36 billion, up over $2 billion since the April high and is now the second largest after Binance.

The open interest volume on Binance and FTX has also each increased by over $1 billion compared to their volumes in April.

The volumes on Huobi and OKEx, on the other hand, have dropped sharply in part due to China’s crackdown on crypto trading as the two exchanges have large customer bases in the country. Bitcoin futures open interest on Huobi was once at $3.14 billion in mid April but now sits at less than $1 billion, the data also shows.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

News Source from TheBlockCrypto.com

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