Bitcoin futures open interest hits all-time high; Here’s what it means
With Bitcoin (BTC) hovering below $70,000, the record-breaking futures open interest may offer clues about its next price movement. As it stands, Bitcoin’s futures open interest hit an all-time high of almost $40.5 billion on October 21, according to data retrieved by Finbold from the crypto on-chain Analysis platform CoinGlass. Bitcoin futures open interest. Source: CoinGlass Implication of Bitcoin’s futures open interest Open interest refers to the value or number of outstanding futures contracts that have yet to expire. Typically, this metric measures the amount of money invested in Bitcoin derivatives at any given time. Picks for you ChatGPT-4o predicts Silver price for end of 2024 1 hour ago Meme coin h...