Bitcoin Futures Open Interest Surges to $58 Billion Ahead of $80K

The Bitcoin price is nearing $80,000 as futures open interest reaches nearly $58 billion.

Binance commands the largest slice of derivatives exchange platforms with $11.51 billion in open interest, followed by CME at $10.07 billion and MEXC at $5.60 billion.

The options market is also showing aggressive hunger for upside, with call volume on IBIT reaching a record 1.58 million contracts on Wednesday.

Total bitcoin options open interest has snapped sharply higher, climbing toward $39 billion after hovering around $25 billion earlier in August.