đ Bitcoin Derivatives Skyrocket! đ
- Bitcoin futures open interest (OI) hit a record $40.5B on Oct. 21, just as BTC flirted with the $70K mark.
- CME leads the pack with 30.7% of the OI, followed by Binance at 20.4% and Bybit at 15%.
- High OI means more leverage and potential volatilityâthink of it as Bitcoin's wild rollercoaster ride! đą
- BTC hit $69,380 but pulled back to $69,033. Still, it's only 6.4% shy of its all-time high.
- Altcoins like Ether (ETH) and Solana (SOL) are also enjoying the ride, with gains of 3.5% and 6%, respectively.
Hold on tight, crypto enthusiasts!