Coinspeaker
Bitcoin Price Shoots Past $65,000 amid Boost in BTC Futures Open Interest

The world’s largest cryptocurrency Bitcoin (BTC) is inching closer to hitting a new all-time high with its price shooting past a staggering $65,000. At press time, Bitcoin is trading 4.99% up at $64,950 with a market cap of $1.2777 trillion.

As per the CoinGlass data, Bitcoin has recorded a staggering $13.64 million worth of liquidation in the last 24 hours, as of press time, of which over $11 million is alone from short liquidations. Amidst the recent price movement, data from Coinglass revealed that the daily open interest for bitcoin futures on centralized exchanges soared to an unprecedented level of $30.30 billion on Monday, as of press time.

Open interest serves as a key metric, representing the total value of all active bitcoin futures contracts across exchanges, providing insights into heightened market activity and trader sentiment

The driving force behind this surge is the insatiable demand for Bitcoin through the recently launched US-listed Bitcoin ETFs, which commenced trading on January 11. Since their debut, these US Bitcoin ETFs have attracted ne...