Crypto

Open Interest on CME Bitcoin Futures Hits All-Time High of $11.6B, Signals Further Bullishness

In October 2023, the Chicago Mercantile Exchange (CME) witnessed a significant increase in Bitcoin (BTC) holdings, adding a total of 25,115 BTC to its portfolio. This development came at a time when CME surpassed Binance to become the largest futures exchange in the world.

Interestingly, this surge in BTC holdings at CME coincided with a remarkable price rally in the Bitcoin market. During the same period, the price of Bitcoin surged from around $25,000 to over $40,000 by the end of the year.

It is worth noting that CME’s growing influence in the cryptocurrency market has not gone unnoticed, as it continues to play a significant role in shaping the price and trading volume of Bitcoin futures. Investors and traders alike are closely monitoring CME’s activities and their impact on the overall market dynamics.

Carmen Brooke Martin

Finance Analyst Hello, my name is Carmen Brooke Martin and I am an expert finance journalist with a master's degree from New York University in Business and Economics. I'm passionate about helping startups spread the word, discover and promote great projects in the crypto and fintech industry.What I am working on is to provide basic cryptocurrency education and benefits to the crypto community through video tutorials and written content.As a business developer, I help crypto projects structure and create a whitepaper that can stir investors' interest, advice on marketing strategies and promotions.

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