Fast Take
This November, the aggregated month-to-month buying and selling volumes of CME Bitcoin futures have spiked to a powerful $70 billion. This appreciable surge, denoting a heightened investor curiosity, parallels the highest of the bull marketplace for Bitcoin noticed in Nov. 2021 when the buying and selling quantity touched $80 billion.
As per the evaluation, CME presently instructions roughly 31% of the futures market with 116,000 BTC in open curiosity contracts—a rise of seven% inside the previous 24 hours. This notable development in open curiosity is going on concurrently with a decline in Binance’s market share. The dominant cryptocurrency trade has seen its market share plummet to an all-time low since Dec. 2021, nearing 25%.
Curiously, a significant premium to Bitcoin futures CME worth over the spot has been noticed, signaling potential market anticipations of an upward trajectory.
The publish CME Bitcoin futures volume spikes to $70B amid shifting market dynamics appeared first on CryptoSlate.
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