Bitcoin Futures Book Exploded!
Yesterday, cryptocurrency markets displayed one of the highest percentage increases in history. Previous such high fluctuations occurred in 2011 when Bitcoin was not yet so popular.
After the intervening time, Bitcoin has become a global financial instrument, trading on reputable finance platforms. Platforms such as Bakkt, CME, LedgerX have emerged that create trading options in Bitcoin.
The number of Bitcoin futures contracts at CME has exceeded 43,000 BTC. While the Bitcoin futures market closed on the last Friday of the month, the Bitcoin price continues to rise at the weekend.
As is known, Bakkt launching last month and sold more than 1000 contracts within 1 month.
A major upswing after the fall last week and volatility in price attracted many market players to the cryptocurrency trade.
How about Closed Short (sales) Positions?
During the six-month period, two short-term sales pressures were seen on the price of Bitcoin, while bears dominated the market. Yesterday’s 36% increase contributed to the break of $ 9,400. This also means the fastest hourly rise of $ 900 per hour.
Bitmex sales orders are down 50%!
According to Bitmex data, the sales position fell by half to $ 410 million. The closure of sales positions raised the BTC price to $ 10,400.
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