Bitcoin futures open interest on CME has risen to $5.2 billion, nearing its late October 2021 record. Over the past month, open interest surged alongside Bitcoin’s 26% gain, with the cryptocurrency now trading at $44,000. Analysts suggest renewed interest in Bitcoin, but the positions of CME traders remain uncertain. The recent Bitcoin rally is attributed to factors beyond ETF speculation, possibly influenced by macroeconomic conditions. CME’s rise in Bitcoin futures open interest indicates growing institutional interest in crypto products, though some remain cautious about the sustainability of the current rally post-ETF approval.