Bitcoin Futures Open Interest Reaches $60.3 Billion: CME and Binance Lead the Market

As reported by COINOTAG on February 16th, recent data from Coinglass reveals that the total open interest for Bitcoin futures contracts has reached an impressive 621,070 BTC, valued at around $60.3 billion. This metric signifies a robust demand within the cryptocurrency market, particularly among institutional investors. Notably, the CME Group holds the largest portion, with an open interest of 174,200 BTC, equivalent to roughly $16.9 billion. Following closely is Binance, which accounts for 111,470 BTC, translating to approximately $10.83 billion. These figures underscore the competitive landscape of Bitcoin futures, enabling traders to hedge their positions effectively while capitalizing on market movements. Monitoring the fluctuation in open interest can provide critical insights into market sentiment and trading strategies.