Data: The open interest for CME Bitcoin futures contracts has reached a historic high, hitting 12.3 billion US dollars
According to Coinglass data, as of October 18th, the Chicago Mercantile Exchange (CME) Bitcoin futures open interest in USD reached $12.3 billion, breaking a historical high and accounting for 31% of the total open interest in the current cryptocurrency market ($39.1 billion).
In addition, Vetle Lunde, a researcher at K33Research, stated that institutions currently prefer to establish long positions. With a significant increase in outstanding contracts, futures premiums have risen to a five-month high.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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