Bitcoin futures on centralized exchanges have achieved a remarkable milestone, reaching a new high for the year. This surge signifies a growing interest in the cryptocurrency market, with the aggregated open interest for Bitcoin futures climbing to $22.9 billion. This level of interest has not been seen since November 2021, indicating a significant revival in trading momentum around Bitcoin, the leading digital currency. The data, sourced from CoinGlass, illustrates a market that is increasingly bullish on Bitcoin, with the open interest nearing the peak of about $24 billion observed in the last quarter of 2021.

Furthermore, the beginning of 2024 has seen a more than 30% increase in open interest for Bitcoin futures, reflecting a parallel rise in Bitcoin’s price to $52,300. This marks a 23% growth since the start of the year, taking the price back to its December 2021 levels.

CoinGlass