CandleFocus Open Interest on CME Bitcoin Futures Hits All-Time High, Signals Further Bullishness
2024-10-16
Author: Content Editor
The open interest for Bitcoin futures on the CME exchange has reached a record high of 172,430 BTC ($11.6 billion). In the past five trading days alone, there has been an increase of 25,125 BTC, one of the highest recorded changes in recent years. This growth is being driven by active and direct market participants rather than inflows to futures-based ETFs. The chart provided shows that active participants hold a significant amount of BTC, while leveraged ETFs have seen a decline or minimal growth. The current activity is focused on the November expiry, following the U.S. election.
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