Bitcoin Futures Open Interest Hits $57.56 Billion: Traders Prepare for Market Volatility

In a recent update from COINOTAG on March 24th, data from Coinglass reveals that the total open interest for Bitcoin futures contracts has surged to 657,100 BTC, equating to about $57.56 billion. This figure reflects a significant increase of 9.31% in just 24 hours. Notably, the open interest has rebounded approximately 25% from last week’s low of around $46 billion. This notable surge suggests that Bitcoin traders are transitioning from a cautious approach to one that embraces active market participation, hinting at potential price volatility on the horizon. Among the major exchanges, CME leads with an open interest of roughly $11.36 billion, followed closely by Binance at approximately $9.67 billion, indicating strong demand across the board.