TechFlow reported, according to CoinDesk, as of October 15, 2024, Bitcoin cash-margin futures contracts have reached an all-time high in popularity. Data from Glassnode shows that open interest in cash-margin futures hit a record high of 384,000 bitcoins (approximately $25.5 billion), surpassing the previous peak of 376,000 bitcoins in November 2022.
Currently, total Bitcoin futures open interest is nearing its all-time high at around 478,000 bitcoins ($31.8 billion). Among this, cash-margin open interest on the Chicago Mercantile Exchange (CME) accounts for 40%, indicating rising institutional investor participation. Meanwhile, open interest in cryptocurrency-collateralized futures has continuously declined over the past two years, dropping from 210,000 bitcoins to 87,000, and now represents only 18.2% of the total open interest.
