This summary text is fully AI-generated and may therefore contain errors or be incomplete.
The open interest for Bitcoin futures reached a new peak of $39.37 billion on July 29, driven by a surge in Bitcoin’s price to over $69,700 after the Bitcoin2024 conference.
Bitcoin Futures Open Interest
The Chicago Mercantile Exchange (CME) recorded the highest open interest at 161,100 BTC, indicating substantial institutional participation in the derivatives market. Binance followed with the second-highest open interest of 127,520 BTC, reflecting strong retail interest in futures. Platforms like Bybit and Bitget also saw a rapid increase in open interest, suggesting a high level of speculative trading as traders took advantage of the price surge.
The bullish sentiment was further boosted by President Donald Trump’s keynote speech at the conference and the announcement of a Bitcoin reserve plan for the US.
- The open interest for Bitcoin futures reached a new peak of $39.37 billion on July 29.
- The Chicago Mercantile Exchange (CME) recorded the highest open interest at 161,100 BTC.
- Binance followed with the second-highest open interest of 127,520 BTC.
- Platforms like Bybit and Bitget also saw a rapid increase in open interest.
This surge in open interest highlights the growing enthusiasm in the market, particularly following major crypto conferences.
📎 Read the original article on cryptoslate.com
