Last November, aggregate monthly trading volumes on CME Bitcoin futures reached a staggering $70 billion. This considerable increase, denoting increased investor interest, parallels the peak of the Bitcoin bull market seen in November 2021, when trading volume reached $80 billion.
According to the analysis, CME currently controls around 31% of the futures market with 116,000 BTC in open interest contracts, an increase of 7% in the last 24 hours. This notable growth in open interest is occurring alongside a decline in Binance’s market share. The dominant cryptocurrency exchange saw its market share fall to an all-time low since December 2021, close to 25%.
Intriguingly, a significant premium to the spot price of CME Bitcoin futures was observed, signaling potential market expectations of an upward trajectory.
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