Open interest in Bitcoin futures on centralized exchanges has recently reached its highest point of the year, surpassing levels last recorded in November 2021. This demonstrates a significant increase in trading activity around the crypto.
According to CoinGlass, overall open interest for Bitcoin futures reached $22.9 billion on Monday, a level last seen in the last quarter of 2021. This is close to the previous high of approximately $24 billion during that period.
Since the start of 2024, open interest for Bitcoin futures has increased by more than 30%, coinciding with the rise in the Bitcoin price to $52,300.
In comparison, total open interest for Ether futures currently stands at $10.5 billion, which is a significant increase of 50% since the beginning of 2024.