Bitcoin futures open interest on the CME exchange has reached 218,000 BTC ($21.3 billion). The value of Bitcoin is nearing a historic market cap of $2 trillion.

CME growth is primarily attributed to active market participants, according to K33 Research.

As Bitcoin's price added $30,000 following the U.S. presidential election results, it now sits at $1.93 trillion market cap. With a price point of approximately $101,000 per Bitcoin, this would achieve the milestone.

"The ongoing increase in CME open interest shows no signs of slowing; it's back-to-back all-time highs," said Velte Lunde, head of research at K33. "To put it in perspective, the growth in CME open interest over the last 15 days is greater than the average yearly open interest on CME prior to 2022."

This surge indicates bullish market sentiment as notable activity is driven by direct participants engaging with the futures market. Moreover, with the introduction of options associated with U.S. spot ETFs, CME futures activity is expected to maintain momentum.

As Bitcoin integrates deeper into the traditional financial system, its volatility is anticipated to decline. Realized volatility has decreased from over 100% to approximately 40% in recent years. Also, cash-margin contracts have hit new highs, which use stablecoins or U.S. dollars.

This could potentially signal a more stable market moving forward.