Glassnode: Chicagoland's BTC-denominated Open Interest is Approaching All-Time Highs

TokenInsight news, according to the latest Glassnode analysis, shows that notional open interest in bitcoin futures at Chicagoland was between $12 billion and $14 billion in October and November, and that total open interest has now fallen from its highs to about $10 billion after the contracts expire on Nov. 26. The open interest in bitcoin-denominated futures is slightly below its all-time high, with a total face value of just over 400,000 bitcoins. At the same time, open interest in bitcoin-denominated contracts can help remove the impact of the currency. Since the launch of the Bitcoin futures ETF in the U.S. market, the dominance of CME open interest and futures trading volume has risen dramatically. BTC futures contracts opened on the CME now account for more than 19.3% of all futures open interest, nearly doubling from its dominant position of 10% in early September. At the same time, CME trading volume has risen to 6.0% from 1.4% over the same period.
Source

Bitcoin

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