Bitcoin futures open interest hits record $5.5 billion

Open interest in Bitcoin futures across 12 crypto-derivative venues as of August 1 stood at $5.57 billion.

Global Bitcoin open interest hits a new high pic.twitter.com/wjPHCc9LQm

— Unfolded (@cryptounfolded) August 3, 2020

A new all-time high was set almost six months after the previous record of $5.37 billion in February this year.

According to Skew, on Sunday, August 2, amid a crash in the price of Bitcoin from $12,000 to $10,500, open positions were liquidated by more than $1 billion.

On Monday, August 3, this figure recovered to $4.99 billion.

Open interest dynamics for Bitcoin futures

The leaders today are OKEx, BitMEX and the Chicago Mercantile Exchange (CME), which account for 57% of total open interest.

Against the backdrop of the new open interest record, futures trading volume on August 3 stood at $14.48 billion, which was nearly one-third lower than the $43.05 billion achieved on July 29 after Bitcoin’s price rose to $11,000.

Yesterday, ForkLog published a special feature examining futures reports.

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