{"id":17941,"date":"2024-10-21T14:34:53","date_gmt":"2024-10-21T11:34:53","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-futures-open-interest-reaches-record-40-6-billion\/"},"modified":"2024-10-21T14:34:53","modified_gmt":"2024-10-21T11:34:53","slug":"bitcoin-futures-open-interest-reaches-record-40-6-billion","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-futures-open-interest-reaches-record-40-6-billion\/","title":{"rendered":"Bitcoin Futures Open Interest Reaches Record $40.6 Billion"},"content":{"rendered":"<p>On October 21, the total open interest (OI) in bitcoin futures reached a record $40.6 billion, surpassing the March figures at the <span data-descr=\"all-time high\" class=\"old_tooltip\">ATH<\/span>. This is according to data from <a href=\"https:\/\/www.coinglass.com\/pro\/futures\/OpenInterest\">Coinglass<\/a>.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1267.webp\" alt=\"1-1267\" class=\"wp-image-243578\"\/><figcaption class=\"wp-element-caption\">Data: Coinglass.<\/figcaption><\/figure>\n<p>In terms of coins, the figure amounted to 592,000 BTC, the highest since December 2022. At that time, the leading cryptocurrency was valued at no more than $20,000 amid peak bearish sentiment.<\/p>\n<p>40% of the total dollar value was attributed to contracts listed on the <span data-descr=\"Chicago Mercantile Exchange\" class=\"old_tooltip\">CME<\/span>, popular among institutional investors ($11 billion).<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThe breakthrough of the $68,000 mark was accompanied by an inflow of ~$2.4 billion into BTC-ETF over the last six sessions, as well as a corresponding jump in OI. This is a constructive signal for opening new long positions,\u201d<\/em> <em>\u2014<\/em> <a href=\"https:\/\/www.coindesk.com\/markets\/2024\/10\/21\/bitcoin-nears-70k-amid-record-open-interest-at-40b-as-trump-harris-election-nears\/\">commented<\/a> SOFA.org&#8217;s Head of Analytics, Augustin Fan.<\/p>\n<\/blockquote>\n<p>QCP Capital noted that macroeconomic factors in Japan and China, combined with the US elections, are contributing to the continued rise of bitcoin.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">4\/ Japan\u2019s inflation dipped to 2.5% from 3.0%, and the BOJ is likely to keep rates low. Meanwhile, US equities are near all-time highs, and the USD\/JPY rally continues. All signs point to strengthening risk-on sentiment as the US election nears.<\/p>\n<p>\u2014 QCP (@QCPgroup) <a href=\"https:\/\/twitter.com\/QCPgroup\/status\/1848006681822687705?ref_src=twsrc%5Etfw\">October 20, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cUS stocks are near historical highs, and the Japanese yen is on a new weakening cycle. Optimism will intensify as the US elections approach, leading to a rise in risk assets and supporting <\/em><em>Uptober<\/em><em>,\u201d<\/em> concluded the experts.<\/p>\n<\/blockquote>\n<p>Earlier, BlackRock CEO Larry Fink opined that bitcoin will continue to rise regardless of who occupies the White House.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On October 21, the total open interest (OI) in bitcoin futures reached a record $40.6 billion, surpassing the March figures at the ATH. This is according to data from Coinglass. Data: Coinglass. In terms of coins, the figure amounted to 592,000 BTC, the highest since December 2022. At that time, the leading cryptocurrency was valued [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17940,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1168,1145,1326],"class_list":["post-17941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crypto-derivatives","tag-market-analysis","tag-qcp-capital"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=17941"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17941\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/17940"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=17941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=17941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=17941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}