• Bitcoin Open Interest on CME hits over $4 billion.
• The Bitcoin weighted funding rates remain positive.

The Open Interest in Bitcoin [BTC] Futures has experienced a notable rise in the past few days, rising along with the price of BTC. Surprisingly, a specific exchange, not the typical one, has garnered the highest percentage of Open Interest in Futures.

CME leads Bitcoin Futures Open Interest

As of 10th November, as reported by Glassnode, the Open Interest for Bitcoin Futures on the CME exchange achieved a record high. The exchange’s value rose to $4 billion, making up 27% of the overall Open Interest.

Analyzing the state of the Bitcoin Open Interest

As per Coinglass data, on 10th November, the Bitcoin Futures Open Interest volume surpassed $16 billion across all exchanges.

Also, the chart showed that this volume marked the highest volume in nearly six months. As of this writing, the volume was around $16.4 billion.

Also, a look at the Futures Open Interest on CME showed that it was around $4.06 billion on the 10th og November. As of this writing, it was around $4.19 billion.

Additionally, Binance closel

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Author: Adewale Olarinde

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