Total open interest in settled Bitcoin futures on the Chicago Mercantile Exchange (CME) hit an all-time high of $6.22 billion, according to data Coinglass.
For comparison, the corresponding figure for Binance is 4.61 billion, Bybit – $3.48 billion.
Data: Coinglass.
The previous maximum open interest (OI) on the CME was recorded in November 2021 at $4.5 billion, when the price of Bitcoin surpassed $68,000.
Data: Coinglass The Block.
Over the past 24 hours, the OI indicator on the regulated exchange has increased by 12%. This surge indicates an increased number of institutional traders. The latter, The Block suggests, are optimistic about the SEC’s verdict regarding spot Bitcoin ETFs.
The growth of long positions among asset managers is noteworthy. In this context, the indicator also updated its historical maximum at $2.52 billion.
Data: CFTC, The Block.
On the other hand, the OI for hedge funds holding short positions in Bitcoin futures on the CME is at a high level. The current figure is at $2.7 billion, which is slightly lower than the November 2021 value ($2.9 billion).
Data: CFTC, The Block.
Net long position of asset managers – $2.5 billion. Net short position of hedge funds – $2.1 billion.
Let us remember that back in the fall, CME displaced Binance from first place in the list of the largest platforms for OI.
Subscribe to ForkLog on social networks
Found an error in the text? Select it and press CTRL+ENTER
ForkLog newsletters: keep your finger on the pulse of the Bitcoin industry!
2024-01-09 17:57:39
#Open #interest #Bitcoin #futures #CME #reached #record #levels #ForkLog
