With the price of bitcoin settling above $ 60,000, open interest (OI) indicators on the Binance and CME exchanges have reached record values.
On October 17, OI on Binance surpassed $ 5.5 billion.
The corresponding figure on the CME platform reached $3.66 billion.
The OI of institutional players in the Commercial category has been growing significantly on the Chicago Mercantile Exchange in the past few months. They are preferring longs over shorts.
On the other hand, bitcoin micro-futures institutions trading is dominated by short positions.
As a reminder, on October 15, the US Securities and Exchange Commission (SEC) “tacitly” approved the launch of the Bitcoin futures ETF from ProShares. Trading is expected to start today, October 19.