CME exchange sees 84,000 BTC or $2B allocated in futures contracts in last 24 hours

Definition

Future’s open interest is the total amount of funds (USD Value) allocated in open futures contracts.

Quick Take

• As Cryptoslate has discussed in previous insights, futures open interest has declined since the collapse of FTX.
• However, the exchange CME has seen a whopping increase of over 84k BTC, the equivalent of almost $2B in the past 24 hours.
• Each time this amount of BTC is allocated in futures contracts, something big price-wise has occurred. Such as the top of the 2021 bull run in November and the collapse of the exchange FTX.

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