Bitcoin Bets Look Bearish as Futures Trading Hits Record Level

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The bitcoin-denominated open interest in futures and perpetuals (futures with no expiry) tied to the largest cryptocurrency has risen to a new record high of 565,579 BTC ($10.6 billion), surpassing the previous peak of 548,096 BTC reached in February 2020, according to Arcane Research. The data covers positions on traditional commodities exchanges such as CME as well as crypto exchanges like Binance and Bybit.

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