Open Interest Bitcoin BTC
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Total open interest in Bitcoin futures reached $22.9 billion on Monday, the highest since the fourth quarter of 2021 and close to the previous high of about $24 billion at the time, according to CoinGlass.
Open interest in Bitcoin futures has increased by more than 30% since early 2024. This increase coincides with the Bitcoin price rising to $52,300. This represents a 23% rise year-to-date and also marks a re-examination of levels last seen in December 2021.
Meanwhile, total open interest in Ethereum futures stands at $10.5 billion, up 50% from early 2024. Ethereum’s trading price rose to $2,900, reflecting a gain of more than 27% year-to-date.
Open Interest is a measure of the total value of all Bitcoin futures contracts that are outstanding or “unsettled” across exchanges and is an indicator of increased market activity and trader sentiment for a specific asset.
Bitcoin price chart | The Block Pricing Page
Market sentiment has been driven in part by the introduction of Bitcoin spot exchange-traded funds (ETFs) by companies including BlackRock and Fidelity over the past few months.
These ETFs have attracted more than $4 billion in inflows in a relatively short period of time, demonstrating investor interest in the broader cryptocurrency-based derivatives market.
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