BTC perpetual futures contract

According to reports, data shows that the open position value of Deribit’s BTC perpetual futures contract has just reached $542350580, a 9-month high. Deribit’s BTC perpetual futures contract open positions hit a 9-month high Analysis based on this information:The recent data released by Deribit has shown that the open position value of the BTC perpetual futures contract has just touched a 9-month high of $542,350,580. This surge in the open position value has been observed at a time when Bitcoin’s price is displaying sideways movement, hovering between $9,000 to $10,000, in recent weeks. The open position value provides an understanding of the amount of capital deployed in futures trading. Hence, this increase in the open position value of Deribit’s BTC perpetual futures contract suggests a bullish sentiment towards Bitcoin’s future price. Furthermore, Deribit is one of the largest exchanges for Bitcoin derivatives in the market, and its BTC perpetual futures contract is the most popular contract traded on the platform….