Future CME Bitcoin: volumes explode
the CME Bitcoin Futures Volumes have hit a new record since the March 12 collapse: good 13,285 contracts traded yesterday, Thursday April 23.
Institutional investors seem to have taken advantage of a favorable moment for Bitcoin, while there is a lot of uncertainty in traditional financial markets.
As recently as yesterday, in fact, Bitcoin experienced a rise which led to the price finally reducing i $ 7,500, after days of fluctuations in which the collapse of the resistance of $ 7,400 turned out to be a difficult undertaking.
Either way, the volume recorded yesterday by the CME, knowing that each futures contract carries 5 BTC, reduces the dollar value to a figure close to $ 500 million. This is a level lower than that of March 12, when, together with one of the fastest and heaviest collapses in Bitcoin price, the volume in dollars approached 600 million.
The futures market trend and the record set by CME show that Bitcoin is drawing more and more attention to itself.
although the story of the refuge lost power, As Bitcoin has not been able to demonstrate the strength of gold (which in recent days has reached its historic peak of the last 8 years, exceeding $ 1,700 per ounce), the trend of these products confirms an interest which remains high.
After all, Bitcoin is approaching its third half in a completely different scenario from the previous two. This time, in fact, the world is grappling with an economic, health and social crisis that affects conventional markets and has even the price of oil has dropped, the WTI having finished negotiating negatively.
However, the injections of liquidity arrive in particular on the market of the Federal Reserve United States. Which suggests that there will be a lot of capital to invest, and why not, invest in Bitcoin.
In this scenario of uncertainty and insecurity, who knows that institutional investors will not want to play the Bitcoin card and are hoping for a rally that can raise the price even more than the historic maximum of $ 20,000 reached at the end of 2017.
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