Open interest for bitcoin futures on centralized exchanges has hit an all-time high, according to Coinglass data.

The surge in open interest has surpassed November 2021 levels, when bitcoin reached its all-time high of over $68,000. It also highlights increased trading activity around the largest cryptocurrency.

According to CoinGlass, the aggregated open interest for bitcoin futures reached over $26 billion on Friday, higher than the final quarter of of 2021, when open interest peaked at $24 billion.

Since the start of 2024, open interest in bitcoin futures has increased, aligning with the digital asset's price rally to a recent high of over $64,000, reached earlier this week .

Open interest, a measure of the total value of all outstanding bitcoin futures contracts across exchanges, is an indicator of increased market activity and trader sentiment around a particular asset.

Bitcoin BTC -1.09% futures open interest reached an all-time high on Friday March 1. Image: Coinglass.

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