Open Positions in Bitcoin Futures Rise to 1-Month High

Open interest rose to $13.1 billion after being in the $10.5 billion to $13 billion range.

AccessTimeIconJun 15, 2021 at 6:53 p.m. UTC
Updated Aug 21, 2021 at 7:13 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Outstanding bitcoin futures contracts have climbed to a one-month high, suggesting a rebound of speculative activity surrounding the cryptocurrency after a string of positive headlines that appear to have stabilized the market. 

The aggregated dollar value of open interest – bitcoin futures contracts traded but not settled  – has climbed to $13.1 billion, the highest since May 19, data from Skew shows. For the past month, open interest mostly stood in the range of $10.5 billion to $13 billion.  

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • Source: Skew 

    Open interest is usually seen as a measure of market activity. Higher open interest means more open contracts, or additional money flowing into the market. 

    “The crypto market is coming back to life,”  the Norwegian analysis firm Arcane Research wrote Tuesday in a report. 

    However, the value of open interest is still less than half of the $27.4 billion peak reached in mid-April, when the bitcoin price reached a record high near $65,000. 

    The largest cryptocurrency by market value was trading around $40,600 as of press time.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.