Futures open interest in Bitcoin (BTC) reached a yearly high of $11.5 billion.
Total open interest (OI) on cryptocurrency futures exchanges hit an all-time high for this year, surpassing $11.5 billion on June 25. According to Onchain data, OI on Binance, Bybit, OKX and some exchanges has exceeded $11.5 billion. Considering the time frame-price movement, we watched a BTC coming directly from $ 24,800 to $ 31,500. In this process, generally “short” oriented transactions were liquidated. As of yesterday, open futures transactions worth $11.5 billion were seen. What does BTC, where record data come back to back, mean?
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Most investors supported this price to a great extent from the futures side, as BTC gained 25 percent. Even if the price structure fell one unit back, it would then increase by three units. The positive social metrics also affected investors, increasing the interest in futures transactions.
With the rise of BTC, both altcoin and BTC-based futures have reached a record level, as money transitions to altcoins are expected. The open futures value, which reached $11.5 billion for the first time in the last year, was interpreted by some as the continuation of the upward trend, and by some as the beginning of a decline.
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