Futures Open Interest is the total amount of funds (in USD value) allocated to open futures contracts.
- As CryptoSlate explained in a previous insight, open interest in futures has been declining since the collapse of FTX.
- However, the exchange CME has seen a significant increase of over 84,000 BTC in the last 24 hours. That’s almost $2 billion in the last 24 hours.
- Every time this amount of BTC is allocated in a futures contract, something big happens pricewise. Such as the top of the bull run in November 2021 and the crash of the exchange FTX.
Post-CME exchanges see 84,000 BTC or $2 billion allocated to futures contracts in the last 24 hours first appearing on CryptoSlate.