Insights

CME exchange sees 84,000 BTC or $2B allocated in futures contracts in last 24 hours

exchange68September 13, 2024

0 1 1 minute read

Definition

Future’s open interest is the total amount of funds (USD Value) allocated in open futures contracts.

Quick Take

As CryptoSlate has discussed in previous insights, futures open interest has declined since the collapse of FTX.
However, the exchange CME has seen a whopping increase of over 84k BTC, the equivalent of almost $2B in the past 24 hours.
Each time this amount of BTC is allocated in futures contracts, something big price-wise has occurred. Such as the top of the 2021 bull run in November and the collapse of the exchange FTX.

Futures Open Interest - CME: (Source: Glassnode) — Futures Open Interest – CME: (Source: Glassnode)

Futures Open Interest: (Source: Glassnode)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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