✨ All-Time High in Long Futures Contracts Volume Achieved
posted 30 Nov 2023
Asset managers at Chicago Mercantile Exchange have broken the record for open interest in Bitcoin long futures, surpassing the previous November 2021 peak, which coincided with BTC’s highest price point.
The Block reports these contracts' current value at $1.98 billion, eclipsing the earlier high of $1.67 billion.
This surge suggests rising expectations for Bitcoin’s price growth. Additionally, there's an overall increased interest in Bitcoin futures, with hedge funds holding substantial short positions worth $1.36 billion.
Bitcoin Long Futures Open Interest at CME Source: theblock.co
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