Bitcoin Futures Open Interest Falls By 83,000 BTC
A series of swift liquidations took the bitcoin price down to a potential bottom of $42,000.The below is from a recent edition of the Deep Dive, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.Almost immediately after we released our November Monthly Report last Friday, the bitcoin market experienced a series of swift liquidations taking price down to a potential bottom around $42,000. We highlighted the increased risk of the overextended total futures open....
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Bitcoin futures open interest on Monday has crossed $23 billion according to data recorded on April 5. The crypto asset exchange Binance has taken the lead as far as open interest in bitcoin futures is concerned with a massive $10.5 billion in open interest. Binance Captures the Bitcoin Futures Lead Not too long ago, Bitcoin.com’s newsdesk reported on CME Group capturing the lead as far as open interest in bitcoin futures. Today, that’s no longer the case, as Binance has jumped ahead of the pack as far as delivering futures derivatives products for BTC. Skew.com analytics....
The Chicago Mercantile Exchange (CME) just became the second-biggest Bitcoin futures exchange in open interest behind OKEx, buoyed by rising institutional demand. The CME Bitcoin futures market overtook Binance Futures to become the second-biggest Bitcoin (BTC) futures exchange by open interest. The data shows that the institutional volume is rapidly gaining a larger share of the cryptocurrency market.On Oct. 10, Skew reported that the CME Bitcoin futures market’s open interest rose sharply by 1,500 contracts. Since then, within three days, the price of BTC surged 9% to over $13,000. The....
Bitcoin futures open interest continues to remain high after the launch of the first bitcoin exchange-traded fund (ETF) on October 22. While Binance commands $5.81 billion and leads the pack, CME Group holds the second-largest position in terms of bitcoin futures open interest (OI) with $4.1 billion or 16.84% of the aggregate OI.
Top Ten Derivatives Platforms Command More Than 97% of Bitcoin Futures Open Interest
Bitcoin derivatives have swelled quite a bit in recent times, and following the launch of the Proshares and Valkyrie bitcoin futures ETFs, bitcoin futures have seen....
Roughly 247 days ago, the total bitcoin futures open interest across 12 different cryptocurrency derivatives trading platforms was $26.73 billion and over the last eight months, bitcoin futures open interest has dropped 60% down to $10.69 billion. Further, the bitcoin exchange-traded funds BITO and BTF have followed bitcoin’s spot market losses, as the bitcoin ETFs have shed between 70% and more than 73% in value since last year’s price highs.
Bitcoin Exchange Traded Funds Slide Over 70% in Value Against the US Dollar
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Prior to the launch of the Proshares Bitcoin Strategy ETF (BITO), open interest in bitcoin futures products has been surging since the start of the month, according to data from the Coinbase Institutional arm Skew Analytics. Binance and FTX command the lion’s share of bitcoin futures’ open interest with 40.67% of the market. Moreover, data from bybt.com’s bitcoin futures’ open interest metrics, shows the Chicago Mercantile Exchange (CME) commands 15.54% of all the open interest in bitcoin futures tallied this week.
Bitcoin Futures Open Interest Has Risen....