Deribit Bitcoin Perpetual Futures Open Interest Hits New Yearly High

The open interest of Deribit's Bitcoin perpetual futures has reached a new annual high of $740 million, the highest level since Bitcoin hit a historical high of over $68,000 in November 2021. The increase in open interest indicates that new funds are entering the market, meaning that participation and potential liquidity are constantly increasing.

In addition, Justin d'Anethan, Head of Business Development for Keyrock Asia-Pacific, stated that the existing premium of CME Bitcoin futures contracts is another indicator of increased institutional participation.