Study finds CME drives Bitcoin price, but it excludes stablecoin volumes

Study finds CME drives Bitcoin price, but it excludes stablecoin volumes

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? On Oct. 14, Wilshire Phoenix investment firm released its Efficient Price Discovery report, which detailed how CME Bitcoin (BTC) futures impact Bitcoin price discovery.The firm concluded that "CME Bitcoin futures contribute more to price discovery than its related spot markets." And the researchers also suggested that:"CME Bitcoin futures have grown to become significant, this is not only demonstrated through trading volume and....


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