Recorded High in CME Bitcoin Futures Open Interest Indicates Bitcoin’s Bullish Trend
Bitcoin futures open interest reached a record high at $828 million on August 3 in CME means that the institutional investors’ activity remains strong. Unlike volume data, futures contracts open interest provides a better picture of investors’ total risk exposure. Regardless of its trading activity, which can momentarily cede after whiplash price movements, open interest will remain high as long as players keep their positions open. Thus, it can be seen as a bullish sign for Bitcoin since investors intend to stay in the market.
Disclaimer: Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise.