Record $39.4B Bitcoin open interest suggests imminent price breakout

Bitcoin futures’ open interest has reached a new all-time high, suggesting that investor demand for the world’s largest cryptocurrency is increasing. Could a price breakout be imminent?

Bitcoin (BTC) open interest, a metric monitoring the total number of open positions in the underlying asset, has reached an all-time high of $39.46 billion across all exchanges.

The current figure surpasses the previous all-time high of $39.03 billion reached on March 29, 2024, according to CoinGlass data.

Bitcoin’s open interest is used by traders to gauge the interest and liquidity behind the asset. The current $39.46 billion peak shows increased investor interest in Bitcoin, which may precede a breakout toward new record highs.