• CME takes 37% of Bitcoin Open Interest volume.
• Bitcoin is yet to embark on a strong bull run in the wake of spot ETF approval.

As the approval for the spot Bitcoin ETF was gaining traction, so was its Open Interest, with CME recently taking the lead. What is the percentage of CME’s dominance, and what implications does this rising Open Interest have for BTC?

CME dominates Bitcoin Open Interest

As per a recent update from Glassnode, CME has surpassed all other exchanges in Bitcoin Open Interest volume. The post revealed that CME’s Open Interest reached a record-high dominance of 36%.

According to Coinglass data, at the time of writing, the BTC Open Interest on CME stood at nearly $6.4 billion. Binance and Bybit secured the second and third positions with over $4.2 billion and $3.3 billion, respectively.

Additionally, at the time of this update, only three other exchanges had Open Interests exceeding $1 billion.

A look at the Bitcoin Open Interest trend

A recent examination of Bitcoin Open Interest showed that it has reached its highest point in the past nine months. At the time of this report, the Open Interest was over $20 billion across all exchanges.

The accompanying chart showed a steady climb in Open Interest since around October 2023. 

Also, this upward trend can be attributed to the widely anticipated

Go to Source to See Full Article
Author:

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details