The Surge in Bitcoin Futures Contracts
The open interest in Bitcoin futures contracts across the entire network has surged to 435,700 BTC, approximately valued at $20.443 billion. This significant increase in open interest reflects the growing enthusiasm and anticipation among investors regarding the potential approval of a spot Bitcoin exchange-traded fund (ETF) in the United States.
The CME Bitcoin contract holds the leading position in terms of open interest, with 132,900 BTC, equivalent to approximately $6.225 billion. Coinglass data reveals a 16.76% surge in open interest for this contract within the past 24 hours, indicating heightened volatility in the market.
Following closely is the Binance Bitcoin contract, securing the second position with an open interest of 96,900 BTC, or approximately $4.547 billion. This contract has witnessed a 10.67% increase in open interest during the same period.
