Market cap data from cryptocurrency market cap aggregators like CoinMarketCap and CoinGecko.

Bitcoin Open Interest Hits Record $37.7B After $2 Billion Surge

Jun 7, 2024, 12:30 PM

Bitcoin's open interest has surged to record levels, reaching $37.7 billion, driven by significant inflows into Bitcoin ETFs and heightened market participation. This marks an increase of $2 billion in just three days and an overall year-to-date rise of 108%. The surge in open interest is accompanied by a record short position by hedge funds, which could lead to increased price volatility. Notably, there have been $1.3 billion in ETF inflows over the last two days, and active market participant exposure has reached 75,000 BTC. Additionally, this increase follows a streak of 18 days of net inflows for spot BTC ETFs.