Open interest on Bitcoin (BTC) on the Chicago Mercantile Exchange (CME) has reached an all-time high.
Institutional and individual investors’ belief in Bitcoin’s rise has peaked. According to data provided by CME, the open interest rate on Bitcoin has risen to a record level. at the end of October 1.04 billion from dollars to $1.98 billion reached.
Bitcoin in November 2021 $68,000 When it reached its all-time high with , CME Bitcoin long-term open positions held by asset managers at that time were only 1.67 billion was at the level.
The increasing interest in Bitcoin long positions was interpreted as investors’ belief in the rise of the cryptocurrency market. However, interest in hedge funds increased. But for hedge funds demand has yet to hit its all-time high.
According to current data, hedge funds $680 million open position is available. This figure remained below the all-time high of $960 million.