K33 Research: CME Bitcoin futures open interest hits a historical high, indicating further bullishness

Vetle Lunde, a senior researcher at K33 Research, stated that the CME Bitcoin futures open interest hit a nominal all-time high yesterday, reaching 172,430 BTC. With the significant increase in open interest contracts, futures premiums have climbed to a five-month high.

The researcher believes that the growth in open interest volume is driven by active/direct market participants rather than fund inflows based on futures ETFs.