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Home»Crypto News Flash»Glassnode: BTC did not close its position at a historical high

Glassnode: BTC did not close its position at a historical high

Crypto News Flash December 2, 2021
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According to the latest analysis data of the blockchain analysis company Glassnode. CME’s Bitcoin futures’ nominal open positions in October and November were between US$12 billion and US$14 billion.

At present, the total open interest has fallen from a high level. After the contract expired on November 26, it fell to about 10 billion U.S. dollars. The open interest of futures denominated in Bitcoin is slightly below the highest point in history. The total face value is just over 400,000 bitcoins.

Open positions denominated in Bitcoin can help eliminate the impact of currency prices. Since the ETF backed by Bitcoin futures was launched in the US market. The dominance of CME’s open interest and futures trading volumes has both risen explosively.

BTC futures contracts opened on the CME Group market now account for more than 19.3% of all open futures contracts. Compared with the 10% dominance in early September, it has almost doubled. Similarly, CME’s trading volume also rose to 6.0% from 1.4% in the same period.

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