Data: The open interest for CME Bitcoin futures contracts has reached a historic high, hitting 12.3 billion US dollars

According to Coinglass data, as of October 18th, the Chicago Mercantile Exchange (CME) Bitcoin futures open interest in USD reached $12.3 billion, breaking a historical high and accounting for 31% of the total open interest in the current cryptocurrency market ($39.1 billion).

In addition, Vetle Lunde, a researcher at K33Research, stated that institutions currently prefer to establish long positions. With a significant increase in outstanding contracts, futures premiums have risen to a five-month high.