Record $7.9B Bitcoin Futures Open Interest Shows Bears are Watching BTC Price

Today Bitcoin (BTC) price blasted through the $20,000 level and in the process, a record $7.9 billion in futures open interest was set.

Although the price increased by 74% over the past two months, the total accumulated short-seller liquidations amounted to $4.3 billion, which is lower than the $4.8 billion from longs.

As shown in the chart above, the futures aggregate open interest increased by 90% over the past two months. Thus, signaling that investors are increasing their positions, which in turn allows even larger players to participate.

It is also worth noting that the Chicago Mercantile Exchange (CME) now holds over $1.3 billion of these contracts, indisputable evidence of the growing institutional participation in BTC markets. Read more…..


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