Bitcoin Open Interest Surpasses $80 Billion, Reaches All-Time High

JOON HYOUNG LEE

Summary

Bitcoin perpetual futures open interest has surpassed an all-time high of $80 billion.
The reason is that derivatives investors have expanded leverage in anticipation of a rise in Bitcoin prices.
There is analysis suggesting that the inflow of funds into Bitcoin spot ETFs could offset the impact of leverage.

Bitcoin (BTC) perpetual futures open interest (OI) has reached an all-time high.

Cointelegraph reported on the 23rd (local time), citing Coinglass data, that Bitcoin perpetual futures open interest surpassed $80 billion on this day. This is an increase of about 30% compared to the beginning of the month. Cointelegraph stated, "The Bitcoin futures open interest has reached a record high," and "This is the result of derivatives investors expanding leverage in anticipation of a rise in Bitcoin prices."

*Bitcoin (BTC) perpetual futures open interest (OI) trend. Photo courtesy of Coinglass*

There is also a suggestion to pay attention to the inflow of funds into Bitcoin spot ETFs. Cointelegraph noted, "Analysts say that with more than $2.5 billion flowing into Bitcoin ETFs this week alone, the surge in ETF funds could partially offset the excessive leverage impact."

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