Bitcoin Long Futures Open Interest Owned By Asset Managers Hits New ATH

It has been just reported the fact that the BTC long futures open interest held by asset managers has managed to hit new ATH. Check out the latest reports about the matter below.

The open interest for long futures on Bitcoin held by asset managers on the Chicago Mercantile Exchange (CME) has reached an all-time high.

According to The Block’s Data Dashboard, the open interest of CME Bitcoin long futures by asset managers has increased from $1.04 billion in October to $1.98 billion currently.

This means that the current value of the contracts held by asset managers has surpassed the former all-time high.

It is worth noting that when Bitcoin’s price reached an all-time high in November 2021 of $68,000, the open interest of CME Bitcoin long futures held by asset managers only reached $1.67 billion.

There has been an increase in the number of open futures contracts, which indicates that asset managers are expecting the price of Bitcoin to rise by the end of December.

Hedge funds also seem to be bullish on Bitcoin futures on the CME, with $680 million in open interest.

However, this figure is still below the all-time high of $960 million. On the other hand, hedge funds are responsible for the majority of open interest in short positions for Bitcoin futures on the CME, amounting to over $2 billion.

MicroStrategy, a software company that is known for holding a significant amount of Bitcoin, has recently purchased more of the digital asset. The company has also disclosed its plan to raise additional funds by selling new shares.

As per the filing, between November 1 and November 29, MicroStrategy bought an additional 16,130 bitcoins for $593.3 million. The company paid an average price of $36,785 for each token.

Furthermore, in a post on X, the Founder and Chairman of MicroStrategy, Michael Saylor, announced that the company currently possesses 174,540 BTC that it acquired at an average price of $30,252 per BTC.