CME BITCOIN FUTURES OPEN POSITION RECORD: $12.26 BILLION‼️
As of October 18, the open interest (Open Interest - OI) of Bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME) reached a historic peak of $12.26 billion. This increase has exceeded the previous record set in April by 3.5%, with a 36% increase in the last two weeks. It is seen that the interest and participation of institutional investors has increased, especially during this period when Bitcoin Spot ETF approvals are awaited. While this intense interest from investors indicates that they expect an increase in market prices, it is noteworthy that hedge funds are in the market with short positions.
This significant increase shows that institutional demand for Bitcoin futures continues. This trend is expected to continue as the November expiration approaches, marking a significant turning point in Bitcoin derivatives markets.
🔥🔥🔥Conclusion: This historic level of open interest in CME Bitcoin futures is a sign of institutional confidence in crypto markets, suggesting continued growth in derivatives‼️
- The information contained in this article is never investment advice and is for accurate and up-to-date informational purposes only. STAY TUNED‼️ Be sure to do your own research❗️
References:
•The Block, “Bitcoin Futures Open Interest on CME Hits All-Time High,” October 2024.
•The Cryptocurrency Post, “Historic Record in Bitcoin Futures Open Interest on the CME,” October 2024.
