Share this article
Open Positions in Bitcoin Futures Rise to 1-Month High
Open interest rose to $13.1 billion after being in the $10.5 billion to $13 billion range.
By Frances Yue
Updated Sep 14, 2021, 1:11 p.m. Published Jun 15, 2021, 6:53 p.m.
Outstanding bitcoin futures contracts have climbed to a one-month high, suggesting a rebound of speculative activity surrounding the cryptocurrency after a string of positive headlines that appear to have stabilized the market.
STORY CONTINUES BELOW
Mis geen enkel verhaal.Abonneer je vandaag nog op de Crypto Daybook Americas Nieuwsbrief. Bekijk Alle Nieuwsbrieven
The aggregated dollar value of open interest – bitcoin futures contracts traded but not settled – has climbed to $13.1 billion, the highest since May 19, data from Skew shows. For the past month, open interest mostly stood in the range of $10.5 billion to $13 billion.
Source: Skew
Open interest is usually seen as a measure of market activity. Higher open interest means more open contracts, or additional money flowing into the market.
“The crypto market is coming back to life,” the Norwegian analysis firm Arcane Research wrote Tuesday in a report.
However, the value of open interest is still less than half of the $27.4 billion peak reached in mid-April, when the bitcoin price reached a record high near $65,000.
The largest cryptocurrency by market value was trading around $40,600 as of press time.
More For You
Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
What to know:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
Top Stories
