Open interest in Bitcoin futures on centralized exchanges has reached a historical high, crossing the $26 billion mark. This is reported by The Block with a link to Coinglass data.
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The surge in open interest exceeded the level of November 2021 , when Bitcoin reached an all-time high of more than $68,000. This also highlights the increase in trading activity around the first cryptocurrency.
According to CoinGlass, total open interest in Bitcoin futures reached more than $26 billion on Friday, March 1 , which is higher than in the last quarter of 2021, when open interest peaked at $24 billion.
Since the beginning of 2024, open interest in Bitcoin futures has increased, coinciding with the rise in the price of the asset to a recent high of more than than the $64,000 reached earlier this week.
Open interest in the total value of all outstanding Bitcoin futures contracts on crypto exchanges is an indicator of increased market activity and trader sentiment for the asset.
This The surge in open enthusiasm is confirmed by The Block's data dashboard showing open enthusiasm for Bitcoin futures on exchanges like Binance, OKX, Deribit and others.
On At the time of writing the news, Bitcoin is trading around $62,300.
