Bitcoin is expected to reach a new record high during the near future, judging by fundamental analysis. Cumulative open interest in bitcoin futures as of March 29, 2024 reached an all-time high of $37.55 billion, equivalent to approximately 539,430 BTC. A large portion of this amount, at $11.5 billion, came from CME Group, the leading derivatives trading platform for BTC futures volume. Significant amounts were also seen on the Binance, Bybit, Bitget, Okx, Deribit and Bingx platforms. Ethereum (ETH) futures also show a notable increase in open interest, although they have not yet reached their peak. The total open interest across all cryptocurrency futures is $78 billion. This data forms the basis of fundamental analysis reflecting the causes and sources of bitcoin's growth, while emotional statements and vangos are based on folklore and crypto epic.
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