Record $7.4B Bitcoin futures open interest shows pros still expect $20K BTC
Cointelegraph
Published Nov 26, 2020 05:06PM ET
Updated Nov 26, 2020 06:40PM ET
Bitcoin (BTC) price failed to blast through the $20,000 level this week but multiple records related to volume and open interest were made on the way up to $19,484. One notable achievement was the open interest on aggregated futures contracts reached $7.4 billion at derivatives exchanges.
As depicted above, there has been a 110% increase over the past 6 months, and it is also worth noting that the Chicago Mercantile Exchange (CME) now holds over $1.1 billion of these contracts. This data is indisputable evidence of the growing institutional participation in BTC markets.
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Written By: Cointelegraph
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