CME Bitcoin futures open interest nears all-time high at $5.2B
The open interest in Bitcoin futures on the Chicago Mercantile Exchange (CME) has grown to $5.2 billion, just $200 million short of its all-time high in late October 2021. This surge in open interest has coincided with a 26% gain in Bitcoin's value over the last 30 days, with the cryptocurrency currently trading at over $44,000. Analysts suggest that the recent Bitcoin rally may be attributed to its relationship with the macro environment, with the Federal Reserve's signal to begin cutting interest rates being a significant driver of price action. The approval of spot ETF products by the SEC in early January may also result in an upward price tick for Bitcoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
[Initial listing] Bitget to list Kiichain (KII)
New data display features added to the futures elite trader homepage
CFD profit share feature upgraded for safer earnings
New stock categories added to the market selection pop-up in the elite trade section
