Both the CBOE and the CME have seen in the past few days, a strong rise in Bitcoin Futures contracts. The Bitcoin Futures volume reached at the two stock exchanges, an all-time high. Remarkably hung together the way the ending of such a contract. In addition, the increase in volume was also accompanied by the recovery of the Bitcoin price.
Who remembers the December of 2017, will probably have no good memories of the two exchanges, CBOE and CME and Bitcoin Futures. After they had announced the Bitcoin Futures for the first time in mid-November 2017, experienced of Bitcoin, while an incredible Run to more than 16.300 Euro.
The publication of the Bitcoin Futures marked a turning point, and attracted an equally rapid price decline. Immediately after the publication of the Bitcoin price fell massively. The price of a Bitcoin plunged from 16.300 Euro to below € 12,000.
On Reddit and many other platforms, it was suspected that the leaking of Bitcoin Futures (and the institutional investors behind it) to manipulate the BTC price. Whenever a Bitcoin ended in a Futures contract at one of the two stock exchanges, suffered the Bitcoin price to a price fall.
In the past few days, it was observed the opposite pattern. On the Chicago Mercantile Exchange (CME) was achieved on Wednesday to a record of more than 11,000 contracts, the contracts were about to expire. According to market data from the CME reported on Wednesday a doubling of the trade volume of its Bitcoin Futures contracts the previous day, to over 11,000 contracts.
The average daily volume in April was previously at 3.716 contracts. Thus, the daily volume on Wednesday rose by nearly 250 percent.
The Chicago Board Options Exchange (CBOE) reported on Wednesday a exceptional number of 19,000 contracts (each worth 1 BTC), which corresponded, according to BRR, around 168 million US dollars. Not only was this a record for CBOE, but tripled the average daily volume of the stock exchange for XBT.
The volumes on Wednesday were, however, outliers. Currently, 2,190 in may Futures, 92 of the June Futures and a September 1-Futures on the CME traded. The volume at the CBOE is also greatly decreased. There 3.711 may Futures, 373 June Futures are currently a 70-July Futures.
Because Futures are usually traded by institutional investors, could be the rising volume but a further indication that institutions have currencies a growing interest in Bitcoin and Crypto. Since the CBOE and the CME open again on Monday, it remains to be seen how the trading volume for Bitcoin Futures on two stock exchanges develop in the coming week.
Also it remains to be seen whether the increase in the volume of trade a BTC price rally, as in November, can trigger. The connection between Futures and Bitcoin, it is pure speculation and should not be overstated. Nevertheless, it can not throw from our point of view, a look at the CBOE and CME.
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