The Chicago Mercantile Exchange (CME) just became the second-biggest Bitcoin futures exchange in open interest behind OKEx, buoyed by rising institutional demand.
CME has risen to second place in terms of bitcoin futures open interest, passing Binance and BitMEX.
Data from Wilshire Phoenix suggests BTC price formation is driven by CME Bitcoin futures but would this dynamic differ if stablecoin volumes were also included?
CME data shows Institutions are long Bitcoin while hedge funds are aggressively shorting BTC.
Although CME’s Bitcoin futures trading products do not deal in actual Bitcoin, they indirectly affect the open market price.
Institutions hold record bullish beets in CME Bitcoin futures as the cryptocurrency shows resilience to negative news.
Futures volume and open interest spiked at derivatives exchanges after Bitcoin price hit $11.7K, highlighting increasing participation from institutional investors.
The largest U.S. regulated market for bitcoin futures has been sounding out cryptocurrency traders to gauge their interest in a listing of futures and options on the Ethereum blockchain’s native tokens.
Trading volumes for CME bitcoin options surged as traders made bull call spreads, anticipating a rally.
Bitcoin options open interest hits an all-time high as increased liquidity points to investors still being bullish on BTC.