On October 21, 2024, open interest (OI) in Bitcoin futures reached $40.38 billion, reaching a new all-time high.
Over the past 24 hours, the OI for Bitcoin futures on the Chicago Mercantile Exchange has increased by 1.28%. Cryptocurrency exchanges Binance and Bybit recorded an increase in interest of 1.53% and 1.12%, respectively. The largest increase is on the BingX platform – 105.95%.
IN CoinGlass explained that open interest in Bitcoin is the total number of outstanding Bitcoin futures or options contracts in the market. This is a measure of the amount of money invested in Bitcoin derivatives at any given time.
Note that the rate of the first cryptocurrency is growing. Over the past 24 hours, the asset price has risen by 1% and at the time of writing is around $69,000.
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Source: Cryptocurrency
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