Bitcoin Bets Reach Unprecedented $37B as ETF Inflows Soar

Traders have made record-high bets on Bitcoin futures, with open interest surpassing $37.7 billion. This surge coincides with record inflows into spot Bitcoin ETFs, indicating positive market sentiment. The long-short ratio has also tilted in favor of bulls, suggesting expectations of further all-time highs for Bitcoin in the coming weeks. Key drivers of this bullishness include risk appetite and favorable regulatory expectations. The Chicago Mercantile Exchange (CME) holds the highest bets at $11 billion, while Binance holds $8 billion.