Bitcoin demand is ‘through the roof’, final trigger to $100,000?
As Bitcoin (BTC) hovers near the $100,000 mark, on-chain data indicates increased demand for the pioneer cryptocurrency, a move likely to act as a catalyst for achieving the six-figure valuation. Particularly, open interest in Bitcoin futures on the Chicago Mercantile Exchange (CME) has reached record-breaking levels, exceeding 40,000 contracts for the first time in history, according to data by Bloomberg shared by financial commentary platform The Kobeissi Letter in an X post on November 29. CME Bitcoin futures open interest. Source: Bloomberg Since the start of 2024, the total number of outstanding contracts for Bitcoin futures has doubled. Picks for you What is happening to BRL as the Brazilian Real collapses against the US Dollar 25 mins ago ...