Record High Bitcoin Futures Open Interest Hits $43.3 Billion with Major Surge on October 31

According to recent data from Coinglass, reported by COINOTAG on October 31, the total open interest in Bitcoin futures contracts across the market has reached a significant milestone of 598,700 BTC, equivalent to approximately $43.326 billion. This represents an incredible increase of $2.326 billion within just one day, marking an unprecedented high in open interest levels. Notably, the CME Bitcoin contracts dominate this space with an open interest of 172,300 BTC, valued at about $12.445 billion, while Binance follows closely with 127,000 BTC, or around $9.194 billion. Such levels of open interest are indicative of heightened market activity and can lead to substantial volatility, particularly as contracts approach expiration. This scenario compels traders to swiftly close, roll over, or adjust their positions, potentially triggering significant price shifts.

Source: https://en.coinotag.com/breakingnews/record-high-bitcoin-futures-open-interest-hits-43-3-billion-with-major-surge-on-october-31/