$81,243.00
6.48%$2,619.37
7.44%$763.54
3.89%$1.42
9.77%$0.999759
0.01%$113.30
12.13%$0.338377
1.16%$1,558.79
7.47%$1.032
0.42%$92.75
8.04%$0.088229
8.46%$573.64
10.99%$83.31
5.98%$1.00
0.03%$0.0134043
5.43%$12.36
8.60%$0.228142
12.90%$8.91
0.14%$0.195702
7.13%$8.88
15.24%$256.97
9.75%$3.72
19.63%$0.999765
0.05%$58.81
8.33%$0.112093
10.14%$0.999637
0.04%$1.37
2.57%$8.28
9.17%$0.079489
6.81%$0.830499
12.36%$0.999914
-0.01%$0.00000548
6.42%$0.060011
3.70%$1.31
9.33%$253.55
9.28%$1.00
0.04%$4,373.76
0.43%$1.14
0.03%$116.81
4.65%$1.00
0.01%$1.00
0.00%$1.15
0.05%$143.74
12.68%$0.780081
4.96%$0.629825
10.89%$0.00422961
5.34%$0.403115
5.80%$1.14
4.99%$4,366.20
0.29%$0.059078
1.46%$2.57
15.64%$0.63947
-9.69%$0.170672
11.80%$0.070545
19.06%$0.00000383
6.58%$2.89
9.51%$0.428671
11.54%$0.0000017
2.07%$0.998259
-0.05%$0.223218
25.16%$1.16
0.10%$0.999804
0.02%$1.98
2.92%$0.999726
-0.06%$0.996141
0.07%$27.91
10.41%$0.99951
0.04%$8.26
10.15%$4.78
1.16%$0.104771
7.63%$0.0469545
121.52%$9.96
6.27%$0.03809095
12.70%$7.20
2.30%$106.54
0.00%$0.085752
3.45%$0.113137
-1.12%$63.50
4.13%$1.74
10.27%$0.099358
9.88%$0.26768
13.33%$2.45
1.05%$0.846326
4.03%$63.42
5.20%$1.56
7.09%$0.970983
15.01%$1.22
0.10%$1.05
0.01%$11.22
0.01%$0.999066
0.06%$0.722279
15.98%$6.81
19.82%$0.00789074
7.58%$0.02529911
6.60%$0.759102
26.37%$0.646688
11.02%$0.075472
-0.55%$0.006638
3.71%$2.10
7.89%$0.0280852
3.57%$0.998956
0.01%$0.285855
14.08%$0.34215
3.73%$0.515287
7.42%$0.999786
0.01%$0.00797935
10.21%$0.999416
0.05%$0.999591
0.05%$0.059946
5.78%$1.15
0.22%$1.73
17.82%$0.0118792
0.40%$0.499599
8.04%$0.676864
-0.30%$2.61
12.21%$0.668542
8.98%$1.58
29.50%$0.185462
6.47%$0.435267
64.51%$0.00736702
1.91%$0.0243456
12.84%$1.14
7.48%$0.409173
15.36%$0.125151
-3.66%$1.12
0.01%$17.39
5.94%$0.138722
2.91%$142.59
1.64%$0.00000033
4.22%$0.394451
9.97%$116.61
0.01%$0.01700058
1.96%$0.998996
-0.06%$0.296351
17.58%$0.04830912
9.38%$0.999453
0.15%$0.0438465
51.94%$0.981773
0.38%$118.92
4.65%$17.83
6.44%$1.00
0.06%$19.99
-0.30%$0.300517
-6.04%$0.295577
13.97%$0.0249051
7.31%$0.00005238
4.48%$1.12
27.44%$0.120909
19.60%$1.10
0.03%$0.00000308
12.97%$0.1121
5.71%$6.26
10.48%$0.094502
8.15%$0.04978922
7.85%$0.219943
6.68%$0.00000122
1.14%$0.00002583
6.36%$65.86
0.44%$0.458093
3.60%$0.351064
5.19%$3.61
36.05%$0.00000024
-0.53%$0.797697
20.02%$0.999752
0.06%$0.999491
0.04%$68.12
0.86%$0.228993
-1.73%$0.549058
3.80%$0.02066162
9.65%$0.226893
12.96%$0.220804
10.07%$0.992729
0.12%$0.23309
15.60%$0.999472
0.01%$0.215037
15.49%$21.13
8.18%$0.210567
12.16%$0.04494948
9.28%$0.585955
-5.47%$1.00
0.00%$0.00407276
5.30%$21.16
0.05%$0.237754
0.59%$0.03002826
4.65%$1.15
0.13%$0.02382288
8.34%$2.02
5.16%$0.999389
0.06%$0.182638
-0.81%$0.00181892
3.98%$1.021
0.03%$1.024
3.94%$0.541298
8.13%$1.37
0.52%$2.94
33.55%$0.04999584
5.65%$0.168879
0.67%$0.171442
6.62%$1.036
-0.39%$0.00426272
7.04%$1.096
0.01%$1.82
1.40%$0.174472
28.70%$0.554887
6.82%$2.33
9.37%$1,933.86
3.42%$0.082279
-6.49%$0.162707
11.88%$1.00
0.00%$0.00000802
8.80%$0.04265791
2.06%$0.084245
-4.14%$0.01511569
4.50%$0.062583
24.77%$0.00159729
13.39%$107.19
1.87%$0.02824206
1.03%$0.325373
4.06%$0.079792
6.14%$8.25
12.79%$0.090546
14.23%$0.336765
1.15%$0.998418
0.07%$0.29624
6.29%$0.359653
5.13%$0.262607
16.00%$0.961746
4.05%$0.574747
7.71%$0.13951
8.46%$0.106994
10.07%$0.097768
7.73%$0.01941967
4.33%$1.00
0.00%$5.80
25.02%$0.00623316
-5.27%$0.131316
69.91%$0.226228
6.48%$0.01812781
13.74%$0.067392
4.57%$0.999576
0.06%$0.0063744
-0.43%$0.081287
1.21%$4.13
3.76%$0.03276474
20.98%$0.999078
0.09%$0.130635
-0.05%$0.03898906
4.18%$0.124862
19.51%
Open interest on Bitcoin futures has hit $10 billion, its highest ever, according to data from Skew Analytics. That means that there’s $10 billion worth of bets on the future price of Bitcoin. Coinciding with the record is a bumper weekend for Bitcoin’s price, which shot past $30,000 yesterday to reach its all-time high price of $34,608.
Futures contracts are a type of Bitcoin derivative that involves traders agreeing to buy some Bitcoin in the future at a price agreed upon beforehand.
This means that if Bitcoin rises by the time the contract expires, the person who bought the contract will profit since they can sell that Bitcoin on the open market. Of course, if Bitcoin’s price falls, then that trader will have lost money.
Open interest refers to the numbers of these Bitcoin futures contrast that are yet to be settled. Futures contracts, obviously, are settled in the future. Some contracts expire after a certain amount of time (a day, a month, a quarter, a year, and so on), which partly explains why the open interest for futures contracts dipped from $9.4 billion on December 31 to $8 billion on January 1.
Other futures contracts are so-called perpetual contracts, meaning that traders can cash out whenever they like. And futures contracts differ from options contracts, which offer traders the obligation, but not the right, to buy Bitcoin upon their expiry.
But the futures volume picked right back up on January 2. That’s likely for two reasons. The first is that futures traders, whose contracts had just expired, saw Bitcoin’s booming price and chose to reinvest. The second is that a whole load of new traders witnessed Bitcoin’s price zip past $30,000 yesterday and wanted to get in on the action.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
