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CME Bitcoin Futures Trading Volumes Keep Surging in May. What Drives Institutional Demand?

  • Alex Dovbnya
    📊‍ Infographics

    May is well-positioned to become the most successful month for CME Bitcoin futures

CME Bitcoin Futures Trading Volumes Keep Surging in May. What Drives Institutional Demand?
Cover image via u.today
Contents

Bitcoin futures issued by the Chicago-based CME have already attained a new high this May with the total trading volume reaching $6.6 bln, the latest Diar report shows. That vividly shows that institutional investors are getting keen on crypto.

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Institutional Interest in Bitcoin Continues to Grow: Report

Institutional Interest in Bitcoin Continues to Grow: Report

Record-breaking numbers  

Undoubtedly, there is a clear connection between the market sentiment and CME trading volumes. This correlation became apparent at the beginning of April when the number of traded future contracts started increasing in sync with the BTC price.  

As reported, CME’s next-door rival CBOE had to put the brakes on its Bitcoin futures due to its dwindling trading volumes.   

Deribit, the Dutch BTC futures and options trading platform, also witnessed stellar growth back in April and March.

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The new gold

The gradually growing institutional interest is a surefire sign that the cryptocurrency market is maturing. Bitcoin is now branded as the ‘digital gold’ (case in point: the recent ‘Drop Gold’ campaign that was initiated by Grayscale. Notably, Bitcoin futures recorded their highest comparison to gold futures in May.

As Diar points out, the Bitcoin market is becoming more ‘synthetic’ as spot exchanges see declining volumes.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester

  • Alex Dovbnya
    📰 News

    Tuur Demeester wants you to buy the dip as Bitcoin touches the support of its parabolic uptrend for the first time since March

Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Tuur Demeester of Adamant Capital has just taken to Twitter to calm down Bitcoin enthusiasts who might have been swayed by incredibly bearish sentiment on crypto Twitter. 

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Bitcoin Price Slashed to $6K. Is This Best Black Friday Sale?

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Bitcoin recently dropped to $6,800, its lowest level since early May. However, Demeester apparently sees this as yet another opportunity to buy the dip. He states that top coin's parabolic uptrend that started at the beginning of 2015 hasn't been violated. However, Bitcoin has tapped support for the first time since March when Bitcoin was trading well below $4,000. 

Shortly after printing a huge red candle on the logarithmic chart, the Bitcoin price spiked by 20 percent on Apr. 2, which started the coin's massive run to $13,700. 

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Crypto Analyst Doesn't Expect Bitcoin Price to Repeat Past Halvenings

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As of now, BTC is down by nearly 50 percent from its yearly high, but this might not be the end of the nightmare for Bitcoin bulls. According to trading exert Josh Rager, the crypto king could plunge below the $7,000 level again after a fakeout to the $7,500 range. 

Gold bug Peter Schiff recently predicted that BTC could collapse to $10,000 level after competing the head-and-shoulders pattern.  

At the time of writing, BTC is sitting $7,313, CoinStats data shows. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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