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Bitcoin's open interest has surged to record levels, reaching $37.7 billion, driven by significant inflows into Bitcoin ETFs and heightened market participation. This marks an increase of $2 billion in just three days and an overall year-to-date rise of 108%. The surge in open interest is accompanied by a record short position by hedge funds, which could lead to increased price volatility. Notably, there have been $1.3 billion in ETF inflows over the last two days, and active market participant exposure has reached 75,000 BTC. Additionally, this increase follows a streak of 18 days of net inflows for spot BTC ETFs.
Interesting chart showing record short position by hedge funds. Although some of the increase is likely related to basis trading re Bitcoin ETFs, an unexpected catalyst can spark a massive short covering https://t.co/6zuLLQsZYG
Interest chart showing record short position by hedge funds. Although some of the increase is likely related to basis trading re Bitcoin ETFs, an unexpected catalyst can spark a massive short covering https://t.co/6zuLLQsZYG
Big jump and new record high in Bitcoin hedge fund net shorts. When this snaps, it will make Volkswagen/GME look like amateur hour https://t.co/b9ZAq1eJSf https://t.co/86QzbvPIFE
