Bitcoin futures open interest has reached an all-time high.
Open Interest for bItcoin fThe future value of centralized exchanges has reached an all-time high, according to Coinglass data.
The surge in open interest surpassed levels reached in November 2021, when Bitcoin surpassed its all-time high of $68,000. It also highlights the increase in trading activity for the largest cryptocurrencies.
Total open interest in Bitcoin futures surpassed $26 billion on Friday, which is higher than in the fourth quarter of 2021, when open interest peaked at $24 billion, according to CoinGlass.
Open interest in Bitcoin futures has been increasing since early 2024, and the digital asset’s price rise has recently surpassed $64,000, which it reached earlier this week.
Open interest, which measures the total value of all Bitcoin futures contracts outstanding across exchanges, is an indicator of increased market activity and trader sentiment for a specific asset.
Increased retail-focused activity
Retail-focused exchanges like Binance were leading the price action last week with Bitcoin perpetual futures trading at a premium of $70 to $80 over spot prices, according to a QCP Capital Markets update on Friday. “Bitcoin’s recent rise above $64,000 was driven by a frenzy of speculative retail buying,” the report added.
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