Futures Open Interest on CME Surpasses 215K Bitcoin for the First Time as BTC Eyes $100K
Bitcoin has added $30,000 since Donald Trump won the U.S. presidential election and closing in on a $2 trillion market cap.
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Bitcoin has added $30,000 since Donald Trump won the U.S. presidential election and closing in on a $2 trillion market cap.
The decentralized exchange for futures and options trading plans to go live on Arbitrum on Jan. 8.
High-leverage liquidity in bitcoin is concentrated at around $58,500, according to Hyblock Capital.
The decline in trading volumes for ETH instruments suggests lower-than-expected institutional interest in the asset, particularly following the launch of spot ETH ETFs, according to CCData.
The approval and subsequent trading of spot ether ETFs in the U.S. has reinvigorated the market, CME’s Giovanni Vicioso said.
The notional open interest, or the dollar value locked in the number of active ether futures contracts, surged by 25% in a single day.
The CME is already the top bitcoin futures exchange by open interest, while the offshore, non-regulated Binance dominates the spot market.
Recently, traders have sold $80,000 BTC call options expiring at the end of May to generate additional yield, one observer said.
The price surge implied that the token could debut with a market cap of over $500 million.
Crypto markets dumped, then jumped, as regulatory headwinds and macroeconomic decisions played their hand in a rollercoaster 24 hours.