Bitcoin Futures Open Interest Reaches Record High, CME and Binance Lead the Way
Data from Coinglass reveals that Bitcoin futures open interest across all exchanges has skyrocketed to 598,700 BTC, equivalent to approximately $43.326 billion. This represents a staggering single-day increase of $2.326 billion, propelling the metric to an unprecedented level.
CME Group takes the top spot with open interest in its Bitcoin contracts amounting to 172,300 BTC, valued at around $12.445 billion. Binance follows closely in second place, boasting open interest of 127,000 BTC, worth approximately $9.194 billion.
The surge in open interest could potentially lead to heightened market volatility, particularly as contracts approach their expiration dates. As traders scramble to close, roll over, or modify their positions, substantial price fluctuations may ensue, impacting the broader cryptocurrency market landscape.
(Source: [BlockBeats](https://m.theblockbeats.info/news/268600))
