The unsettled Bitcoin futures have broken through 21 billion US dollars, the highest since November 2021

According to data from CoinGlass, the nominal open interest, i.e., the dollar value locked in unliquidated or active Bitcoin (BTC) futures, has risen to a 26-month high. As of writing this article, the open interest of perpetual contracts and standard futures exceeds $21 billion, with the spot market trading price for Bitcoin at $49,570. The number of open futures this year has increased by 22%, close to the record $24 billion set when Bitcoin's trading price exceeded $65,000 in mid-November 2021.