BTC total open interest in the derivatives market is $43.7 billion. The top two are neck and neck: Binance has $6.99 billion, CME has $6.84 billion—only a 2% gap, about $150 million.
CME is the main channel for Wall Street funds trading Bitcoin futures—compliant accounts that can’t trade 24/7 and don’t participate in the crypto world’s chain-reaction liquidations. It’s a market with that kind of slower pace, where the scale of positions outweighs MEXC’s $6.02 billion, Gate’s $4.51 billion, and Bybit’s $3.99 billion, directly topping out behind Binance.
ETH is a completely different story: CME positions of $2.0 billion rank fourth, and are less than half of Binance’s $4.42 billion. Almost all institutional leverage is effectively bet on BTC, while ETH is still “in the house” of the crypto market.
The Fear and Greed Index is only 29 today, and the coin price is moving sideways around $64,900. For this batch of positions built through CME, there’s no sign of any retreat. The next time you hear claims that institutions are exiting, flip through this open-interest distribution table first before drawing a conclusion.
Live view: https://www.coinboss.com/open-interest
CME is the main channel for Wall Street funds trading Bitcoin futures—compliant accounts that can’t trade 24/7 and don’t participate in the crypto world’s chain-reaction liquidations. It’s a market with that kind of slower pace, where the scale of positions outweighs MEXC’s $6.02 billion, Gate’s $4.51 billion, and Bybit’s $3.99 billion, directly topping out behind Binance.
ETH is a completely different story: CME positions of $2.0 billion rank fourth, and are less than half of Binance’s $4.42 billion. Almost all institutional leverage is effectively bet on BTC, while ETH is still “in the house” of the crypto market.
The Fear and Greed Index is only 29 today, and the coin price is moving sideways around $64,900. For this batch of positions built through CME, there’s no sign of any retreat. The next time you hear claims that institutions are exiting, flip through this open-interest distribution table first before drawing a conclusion.
Live view: https://www.coinboss.com/open-interest
