Sorotan Onchain
DEFINITION: Bitcoin futures open interest (OI) is the total amount of funds allocated in open futures contracts.
Bitcoin futures OI has seen a further rebound recently. As Bitcoin prices neared $70,000 earlier this year, futures OI reached unprecedented levels, signaling renewed investor interest and market engagement. CryptoSlate's previous insight highlighted that the rise in OI reflected a significant rebound in the futures market, following a period of decline post the FTX collapse, which had wiped out 40% of open contracts.
Currently, about $29 billion is allocated in futures contracts, a marked recovery from the lows seen in late 2022 and approaching the highs reached in March of this year. This revival is due to increased institutional participation, particularly through the CME, which has become a leading indicator of institutional interest in the market.
The growth in futures OI not only highlights the return of confidence among investors but also hints at potential market volatility and price movements as more leverage enters the market.
