Posted 12/6/2023, 1:43:36 AM
Bitcoin Futures Interest Nears All-Time High as Price Rallies
- Bitcoin futures open interest on CME nears $5.2 billion, close to the 2021 all-time high of $5.45 billion
- Open interest has surged in parallel with Bitcoin's 26% price gain over the past 30 days
- Positioning of "big players" on CME was net short as of Nov 28 per CFTC data
- Analysts attribute rally to macro environment and potential ETF approvals, not just speculation
- Substance abuse growing among crypto traders according to magazine article