Cryptocurrency
CME Bitcoin Futures Post Strong Trading Session Amidst Market Chaos; What This Means
As reported on NewsBTC, “Bitcoin’s immense volatility seen yesterday caught investors and traders off guard, leading to over $200 million in positions to be liquidated. It also made it increasingly unclear as to how strong BTC’s recent uptrend truly is. “This volatility appears to have been driven primarily by users on margin trading platforms like […]
As reported on NewsBTC, “Bitcoin’s immense volatility seen yesterday caught investors and traders off guard, leading to over $200 million in positions to be liquidated. It also made it increasingly unclear as to how strong BTC’s recent uptrend truly is.
“This volatility appears to have been driven primarily by users on margin trading platforms like BitMEX, although it also coincided with a spike in activity on the CME.
“Data shows that CME futures saw a massive volume surge that came about after a month of dwindling trading volume.
“Open interest on the platform still remains slight below its all-time highs that were set in May.
“Bitcoin’s options activity also extended its momentum, with the ratio seen between calls and puts suggesting that traders are primarily focused on catching upside movements…”