Open Interest in Bitcoin Futures Reaches Yearly High of $12B: Coinglass Data

The dollar value locked in the number of open bitcoin (BTC) futures contracts is rising, signifying increased speculative interest in the market and potential for price volatility. Data from Coinglass shows that the nominal value of open interest has reached a yearly high of $12 billion, marking a 7% gain for the month. "The Hash" panel discusses what this means for the biggest cryptocurrency by market capitalization and the wider crypto market.