The open interest of Bitcoin futures has reached a historic high of 25.5 billion US dollars

PANews reported on October 15th, according to CoinDesk, the open interest (OI) of Bitcoin cash margin futures has reached a historic high, currently about 384,000 BTC ($25.5 billion). This record surpasses the peak when Bitcoin was close to $16,000 in November 2022 and is mainly driven by institutional investment activities at CME (Chicago Mercantile Exchange). CME futures account for 40% of the open interest in cash margin contracts.

In contrast, the proportion of open interest in cryptocurrency-based margin futures has dropped to a historical low, accounting for only 18.5% of total open contracts. This indicates that the market is gradually shifting towards more stable cash margin futures reducing volatility risk and may lay the foundation for a bull market in 2025.