Bitcoin Open Interest Surpasses $40 Billion Milestone
Recent data from Coinglass indicates that the open interest for Bitcoin has crossed an impressive $40 billion for the first time. Total open interest now stands at 593,020 BTC, translating to approximately $40.65 billion. This achievement underscores a significant milestone in the crypto derivatives landscape.
Leading Exchanges in Bitcoin Open Interest
The following exchanges currently hold the most significant portions of this open interest:
- Chicago Mercantile Exchange (CME): 180,750 BTC (valued at $12.37 billion, 30.42% of total)
- Binance: 122,890 BTC (valued at $8.43 billion, 20.73% of total)
- Bybit: Open interest valued at $6.02 billion
- Bitget: Open interest valued at $4.04 billion
- OKX: Open interest valued at $3.32 billion
Recent Trends in Open Interest
In the last 24 hours, total open interest has seen a growth of 2.19%. Specific exchanges have demonstrated notable increases:
- Bitget: +2.60%
- OKX: +1.47%
This overall stability in the rate change indicates sustained interest from investors participating in Bitcoin futures.
The Broader Market Context
The surge in open interest reflects a robust ongoing interest in Bitcoin derivatives, particularly as investors strategize in light of recent market conditions following the Bitcoin halving. Currently, Bitcoin’s price is hovering just 7% below its all-time high, further attracting trader attention.
Liam ‘Akiba’ Wright
Liam Wright, known as “Akiba,” is a journalist and podcast producer, passionate about the transformative potential of decentralized technology.
