![CME exchange sees 84,000 BTC or $2B allocated in futures contracts in last 24 hours](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2023/01/bitcoin-Insights-4.jpg&w=70&h=37&q=75)
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)](https://cryptoslate.com/wp-content/uploads/2023/01/CME-1.png)
![Futures Open Interest: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/01/CME.png)