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Record $7.4B Bitcoin futures open interest shows pros still expect $20K BTC

Published 11/26/2020, 05:06 PM
Updated 11/26/2020, 06:40 PM
Record $7.4B Bitcoin futures open interest shows pros still expect $20K BTC

Bitcoin (BTC) price failed to blast through the $20,000 level this week but multiple records related to volume and open interest were made on the way up to $19,484. One notable achievement was the open interest on aggregated futures contracts reached $7.4 billion at derivatives exchanges.

BTC futures aggregate open interest. Source: Skew

As depicted above, there has been a 110% increase over the past 6 months, and it is also worth noting that the Chicago Mercantile Exchange (CME) now holds over $1.1 billion of these contracts. This data is indisputable evidence of the growing institutional participation in BTC markets.

Total cryptocurrencies daily volume, USD. Source: TradingView
BTC options aggregate open interest. Source: Skew
BTC 1-month options 25% delta skew. Source: Skew

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