Bitcoin open interest soars to 1-year high as BTC price rallies toward $68K
Data shows that the total number of Bitcoin futures contracts reached 566,270 on Oct. 15, the highest level since January 2023. In US dollar terms, the current open interest stands at $38 billion, just 2.5% below its all-time high from March 28, 2024. This marks a clear indication of increased demand for leverage using BTC derivatives.