According to recent data from Coinglass, as of November 3, the open interest for Bitcoin futures contracts across global exchanges has reached an impressive 577,600 BTC, valued at approximately 39.616 billion US dollars. This substantial figure reflects the growing confidence in the Bitcoin market and serves as a barometer for investor sentiment. Leading the pack is the CME with an open interest of 166,100 BTC, translating to about 11.371 billion US dollars, showcasing its dominance in institutional trading. Meanwhile, Binance follows closely with an open interest of 123,600 BTC, worth around 8.482 billion US dollars, highlighting the exchange’s significant role in the retail trading landscape. These figures underscore the evolving dynamics of the cryptocurrency market and the importance of futures trading in price discovery.
Source: https://en.coinotag.com/breakingnews/bitcoin-futures-open-interest-surges-to-39-6-billion-cme-leads-with-11-37-billion/