CandleFocus Bitcoin open interest hits record $19.8B, signaling bullish sentiment among investors
2024-10-16
Author: Content Editor
Open interest in Bitcoin has reached a new all-time high of $19.8 billion, indicating increasing demand for the cryptocurrency. Funding rates also reached their highest level since August, suggesting bullish sentiment among investors. While some worry about volatility risks due to high leverage, institutional investors and cash-margined contracts make up a significant portion of open interest. The dominance of the Chicago Mercantile Exchange (CME) in cash-margined contracts highlights institutional interest. Other metrics, such as net purchases and growing demand, also indicate a strong performance and bullish momentum for Bitcoin.
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