Bitcoin futures open interest hits all-time high
Open interest for bitcoin futures on centralized exchanges reached an all-time high after the recent price rally.Aggregated open interest for bitcoin futures stands at over $26 billion, according to Coinglass data.
The surge in open interest has surpassed November 2021 levels, when bitcoin reached its all-time high of over $68,000. It also highlights increased trading activity around the largest cryptocurrency.
According to CoinGlass , the aggregated open interest for bitcoin futures reached over $26 billion on Friday, higher than the final quarter of of 2021, when open interest peaked at $24 billion.
Since the start of 2024, open interest in bitcoin futures has increased, aligning with the digital asset's price rally to a recent high of over $64,000, reached earlier this week .
Open interest, a measure of the total value of all outstanding bitcoin futures contracts across exchanges, is an indicator of increased market activity and trader sentiment around a particular asset.
Uptick in retail-focused activity
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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