FOMO on Bitcoin continues and the open interest on CME is now on the highest level ever seen

FOMO on Bitcoin continues and the open interest on CME is now on the highest level ever seen

Bitcoin is rising again and is close to $ 18K, The open interest on CME is on ATH.


17 Nov 2020 , 20:20 @ Matey Salt

FOMO on Bitcoin continues and the open interest on CME is now on the highest level ever seen

Bitcoin is rising again and is close to $ 18K,  The open interest on CME is on ATH.

At present, it really looks like FOMO (Fear of missing out) is taking place on Bitcoin, which is pushing the price constantly higher. However, with the rising price, the overall interest is also growing and the indicator of open interest on CME BTC Futures is on ATH.

As we can see from the chart, Bitcoin has just reached today’s high of $ 17,775 and is only a small step away from rewriting history with the new ATH.

Currently, the third largest market for Bitcoin futures, CME, is also growing rapidly and announces that the open interest is at the highest level ever seen, informs Arcane Research.

The open interest on CME rose to $ 975 million yesterday, reaching a new ATH and beating the previous peak of $ 948 million measured in August.

As for the total open interest in the BTC futures market, it is currently around $ 6.3 billion. After today, it will most likely be slightly higher numbers again, also in the case of the open interest.

CME currently accounts for over 15% of the total open interest in the BTC futures market. Just before CME is the Binance and accounts 15.6% of the total open interest.

Read also: Bitcoin has built a new support at $ 16K so it can continue on its way up

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