Bitcoin futures impact price more than spot markets: Wilshire Phoenix
The information in the report appears to confirm what many in the industry already believed to be true. A new report from investment firm Wilshire Phoenix claims that the Chicago Mercantile Exchange’s, or CME’s, cash-settled Bitcoin futures trading products affect Bitcoin’s price even though they do not directly involve actual real Bitcoin (BTC).“The findings of Wilshire Phoenix indicate that CME Bitcoin Futures contribute more to price discovery than its related spot markets,” said an Oct. 14 report from Wilshire Phoenix, adding:“A leading futures market suggests the existence of a robust....
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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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The United States SEC may not approve a Bitcoin exchange-traded fund until 2023, according to a former BTC ETF expectant. William Cai, co-founder of investment firm Wilshire Phoenix, is the latest person to cast doubts on the possibility of a Bitcoin (BTC) exchange-traded fund (ETF) approval in the United States in 2021.Speaking to Business Insider, Cai remarked that a Bitcoin ETF in 2021 is unlikely as he offered 2022 and 2023 as the earliest possible times for the U.S. Securities and Exchange Commission to greenlight a BTC ETF.Several Bitcoin ETF hopefuls currently have filings with the....
Bitcoin and altcoins must rebound off their immediate support levels to recapture bullish momentum and resume the uptrend. Chicago Mercantile Exchange’s cash-settled Bitcoin (BTC) futures trading products “contribute more to price discovery than its related spot markets,” according to findings in a new report by investment firm Wilshire Phoenix.The increasing volumes of crypto derivative products highlight greater participation from institutional investors and this will likely be positive for the entire crypto space.This is not unique to cryptocurrencies because even in most other asset....
Key derivatives indicators show pro traders remain strongly bullish even as Bitcoin price continues to reject at $19,800. Most investors that follow Bitcoin will have recently heard about the growing impact Bitcoin (BTC) futures and options markets have on Bitcoin price. The same can be said for the price swings caused by liquidations at OKEx and Huobi exchanges.Considering that derivatives markets are now playing a much bigger role in Bitcoin price fluctuations, it is becoming increasingly necessary to review some of the key metrics professional traders use to gauge activity in the....