Open interest in Bitcoin derivatives reached a record high as BTC approached $70,000 on Oct. 21. CoinGlass reported that Open Interest (OI) in Bitcoin futures contracts reached $40.5 billion. Open interest refers to the value or number of futures contracts that have not yet expired and indicates the potential leverage and volatility in the system. CME had the largest share with 30.7% of the total OI, followed by Binance with 20.4% and Bybit with 15%. During periods of high OI, sharp price movements can lead to on-chain liquidations. Share your thoughts in the comments.