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Insights
Bitcoin surges to $97k as market leverage hits historic $63 billion Memecoin revival drives Solana DEX Raydium past Tether in fees Ethereum falls to 4-year low against Bitcoin as BTC breaks above $94k Bitcoin ETFs record over $1 billion inflow in 2 days as new price peak boosts investments Stablecoin market hits 2-year high of $183B amid Trump victory fueled optimism
CME exchange sees 84,000 BTC or $2B allocated in futures contracts in last 24 hours CME exchange sees 84,000 BTC or $2B allocated in futures contracts in last 24 hours James Van Straten · 2 years ago
Insights Bitcoin

CME exchange sees 84,000 BTC or $2B allocated in futures contracts in last 24 hours

On Jan. 24, we saw the highest amount of futures contracts since FTX collapse and November 2021 price peak.

James Van Straten / @jvs_btc / Jan. 24, 2023 at 7:11 pm UTC

Definition

Future’s open interest is the total amount of funds (USD Value) allocated in open futures contracts.

Quick Take

  • As CryptoSlate has discussed in previous insights, futures open interest has declined since the collapse of FTX.
  • However, the exchange CME has seen a whopping increase of over 84k BTC, the equivalent of almost $2B in the past 24 hours.
  • Each time this amount of BTC is allocated in futures contracts, something big price-wise has occurred. Such as the top of the 2021 bull run in November and the collapse of the exchange FTX.
Futures Open Interest - CME: (Source: Glassnode)
Futures Open Interest – CME: (Source: Glassnode)
Futures Open Interest: (Source: Glassnode)
Futures Open Interest: (Source: Glassnode)
Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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In this insight

Bitcoin BTC (24h)
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