Crypto markets have been highly volatile in recent times, and as the institutional investments in Bitcoin continue to rise, there is a major escalation in the Bitcoin Futures trading across exchanges.
The Bitcoin open interest reached a massive high in the past few days that eventually made CME the largest Bitcoin Futures market. SME just surpassed OKEx to take the top spot as the largest BTC Futures market.
CME Becomes Topmost Bitcoin Futures Exchange
Arcane Research was among the first to talk about the same based on the data from Skew analytics that shows that the Open Interest or Bitcoin has surpassed 1.16 million; just a month ago, CME was on the third spot following Binance and OKEx.
Market watchers and analysts attribute the sudden rise to the high inflow of institutional investors in the crypto industry. With Galaxy Digital raising 59 Million in bitcoin fund from Institutional Investors and increased liquidation across exchanges, CME accelerated to the top spot
Reportedly the Bitcoin Futures market on CME has increased substantially with more investors and traders trying to adopt Bitcoin in its recent extreme bullish run. With BTC price rallying towards its All-Time High, many traders and mainstream institutions are jumping on the BTC bandwagon to garner massive profits and strengthen their foothold in a volatile economy.
Arcane Research tweeted that Skew data indicates that CME is the largest BTC futures trading market. Skew data has also showcased that the BTC USD spot volumes reached $2 Billion on November 27th, touting that volatility is good for all crypto exchanges.
With the BTCx20 November futures set to expire, the markets have seen higher volatility with contract holders trying to adjust the positions. ]]Arcane Research listed Buybit, Binance, and Huobi also on its list as the leading futures markets for bitcoin. Buybit most recently announced launching a Bitcoin Contract.
As Bitcoin markets continue to surge, CME would play a pivotal role in spot price formation and lead through the significant trading volumes and open interest projections. As major liquidations occurred across exchanges post-Thanksgiving with BTC whales depositing their tokens to the exchanges, the price of bitcoin dropped below $17000, leading CME to become the biggest BTC futures market.
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