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<ul> 
 <li>The daily open interest in bitcoin futures has climbed by over 100% since January 1, 2024.</li> 
 <li>The increasing market activity and trader mood around a given asset is shown by OI.</li> 
</ul> 
With open interest (OI) for bitcoin futures hitting a new high on centralized exchanges, trading activity surrounding <a href="https://thenewscrypto.com/peter-schiff-shifts-focus-to-trumps-djt-stocks-calls-it-bitcoins-alternative/" target="_blank" rel="noreferrer noopener">Bitcoin</a> has been on the rise. Friday saw a record-breaking amount of aggregated open interest for bitcoin futures, reaching $38 billion, according to <a href="https://www.coinglass.com/" target="_blank" rel="noreferrer noopener nofollow">CoinGlass</a>. 
The daily open interest in bitcoin futures has climbed by over 100% since January 1, 2024, when it was about $17.2 billion. The price of bitcoin has soared above $70,000, a gain of 66% year-to-date, coinciding with this increase. 
The increasing market activity and trader mood surrounding a given asset is shown by open interest, which is the total value of all outstanding or “unsettled” bitcoin futures contracts across exchanges. 
<h3 class="wp-block-heading" id="h-investors-optimistic">Investors Optimistic</h3> 
Based on statistics, the current open interest number is in line with a monthly volume of over $2.3 trillion in bitcoin futures during March across several exchanges. This is the biggest level since May 2021. 
Also, since the start of 2024, there has been an almost 90% growth in the total open interest for ether futures, which now stands at $13.8 billion. The current price of Ether is $3,500, representing a gain of more than 53% so far this year. 
Bitcoin spot exchange-traded funds (ETFs) introduced in the last few months by companies like <a href="https://thenewscrypto.com/will-blackrocks-bitcoin-etf-ever-overtake-grayscales-holdings/" target="_blank" rel="noreferrer noopener">BlackRock</a> have impacted market sentiment and have received a total of more than $12 billion in net inflows. 
Bitcoin exchanges have witnessed outflows of about $10 billion in value with the advent of spot exchange-traded funds (ETFs) in the United States. Since January 11th, exchanges have seen outflows of over 136,000 BTC, according to <a href="https://glassnode.com/" target="_blank" rel="noreferrer noopener nofollow">Glassnode</a>, an on-chain monitoring firm. 
Highlighted Crypto News Today: 
<a href="https://thenewscrypto.com/vechain-vs-nftfn-unveiling-the-2024-price-predictions-that-will-shake-the-crypto-world/" target="_blank" rel="noreferrer noopener">Vechain vs NFTFN: Unveiling the 2024 Price Predictions That Will Shake the Crypto World</a>

Bitcoin Futures Open Interest Surges to All-Time High of $38 Billion

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