12M
...
Bitcoin’s future looks brighter than ever as open interest in bitcoin futures on centralized exchanges soars to unprecedented levels. Data from CoinGlass reveals that the total value of all outstanding bitcoin futures contracts has eclipsed $26 billion, outstripping the previous record set in November 2021 when bitcoin’s price soared above $68,000. This remarkable surge not only surpasses the peak interest of $24 billion seen in the final quarter of 2021 but also underscores the growing enthusiasm and trading activity surrounding the world’s leading cryptocurrency.
The increase in open interest aligns with bitcoin’s impressive price rally, which saw it reach over $64,000 earlier this week, hinting at a robust and buoyant market. Open interest, the cumulative value of all open bitcoin futures contracts, serves as a key indicator of market activity and investor sentiment, reflecting an optimistic outlook on bitcoin’s value and its potential for future growth.
