Open interest in Bitcoin perpetual futures contracts on derivatives exchange Deribit has approached a 2021 bull market.
The value of open positions on Deribit is at the highest level of the year for 740 million dollars reached. These numbers From November 2021, when the price of Bitcoin rose up to $68,000 hasn’t been seen since.
An increase in open positions may mean that money is entering the market and activity on the investor side is increasing.
Justin d’Anethan, Keyrock’s Asia Pacific Business Development Manager, thinks that the premium rate of Bitcoin futures contracts on CME could also be positive for the market. D’Anethan, “It’s hard not to notice that the futures premium on CME contracts is healthy, indicating that some sophisticated players are looking to take exposure to Bitcoin.” said.
D’Anethan, this “with spot Bitcoin ETF decision expected in mid/late January” He said it was related. But KeyRock executive warned investors urged caution:
“It is not difficult to think that in periods when everyone’s positions are long, some big players will reduce prices and trigger liquidations in leveraged long positions.”