The week started with a sharp strengthening of the bitcoin rate above $28,000. Against the backdrop of the activation of investors, interest in BTC futures increased.
The day before, the largest digital currency soared to $28,439, and open interest in bitcoin futures exceeded $12 billion.
Over the month, the amount of deployed contracts increased by about 7%, according to CoinGlass data.
The growth of open interest indicates that big capital is actively entering the market. Moreover, most traders are guided by the further growth of BTC.
According to Quantrend Technology analysts, positive is gradually returning to the cryptosphere. The last time a similar situation was observed before the collapse of the Terra ecosystem in May 2022.
However, at any time, capital can leave the futures market if volatility escalates and the spot price of bitcoin goes down.
The highest open interest in BTC futures was recorded on April 15, 2021. The amount of contracts on the exchanges that day reached $23.8 billion.
Another surge in institutional investor activity was observed in November 2021.
Open interest in bitcoin futures rose to $23 billion on November 10.
