Bitcoin

<ul><li>Colin Wu reports Bitcoin futures open interest surging to $15.83B as CME nears Binance&#39;s lead in the futures market landscape.</li><li>CME&#39;s rapid ascent in Bitcoin futures marks new competition for Binance, while institutional interest is believed to fuel the growth trend.</li><li>With a 33.5% increase since October, Bitcoin futures show bullish momentum.</li></ul>In a significant development, <a href="https://cryptotale.org/bitcoin-futures-and-options-greed-signals-cryptos-october-struggle/" rel="noopener noreferrer nofollow">Bitcoin futures</a> contracts&#39; open interest has reached an all-time high since June 2022, soaring to $15.83 billion, as reported by prominent Chinese journalist <a href="https://twitter.com/WuBlockchain" rel="noopener noreferrer nofollow">Colin Wu</a>. Since the beginning of October, there&#39;s been an impressive 33.5% jump in this metric. Coupled with this, Bitcoin options holdings are currently robust at about $15 billion, peaking historically at $17.73 billion on October 27.Represented by a yellow line in Coinglass&#39; chart, the BTC price, currently at <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">34,11K</a>, exhibits many fluctuations, including marked peaks and troughs. Despite this volatility, a notable rise towards the end implies a rejuvenating investor trust.Shadowing the BTC price spike, open interest, depicted by the blue line, takes a similar uphill journey. This reflects the cumulative number of unsettled derivative contracts, such as futures and options.The chart also touches upon trading volumes, represented by green bars, which vary significantly throughout the period. These variations serve as key indicators of market sentiment and the potential future direction of prices.Read full article at<a href="https://cryptotale.org/bitcoin-futures-open-interest-skyrockets-cme-targets-binances-reign/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Bitcoin Futures Open Interest Skyrockets: CME Targets Binance's Reign

CryptoTale

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