The increase in the price of Bitcoin has led to a rise in the Bitcoin Futures trading, both on the CME as well as Bakkt.
The crypto Trading was in the past few weeks on a broad Front on the decline, as most of the give the macro-economic indicators, more attention. Bitcoins recent upswing has many, however, surprised – and the futures markets experienced higher Trading volumes than expected.
CME and Bakkt experience Trading volume-Peak
Both Bakkt as well as CME reported a sharp increase in the Trading volume for Bitcoin-futures markets – the largest increase in Volume since the 16th century. March.
How to Skew (@skewdotcom) reported, could reflect the strong performance to the fact that – a is temporarily returned to the doldrums go to the investors ‘ interest in Bitcoin.
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Of course, the increase in the Trading volume does not, per se, is good news for the market – after all, the majority of traders on these exchanges could also bet that the price of BTC will fall.
At the time of writing, the long positions of all of the major stock exchanges are twice as high as the short positions and Bitcoin is just below the resistance price of $ 7,000.
Although it is easy, in the to lose domestic market movements of the crypto-currency market, one should not forget that the macro-economic indicators still dominate. This is due to the fact that crisis in a business.
This uncertainty has led to predictions on bitcoin future price movements vary greatly. An Analyst from Morgan Creek Digital for example, believes that Bitcoin will fall before the halving, and only in connection to September, all-time high to reach.
But others are far more bullish and point to the deteriorating macro-economic indicators. In the past week, about 6.6 million Americans applied for unemployment benefits.
Suppose we are in a recession, so it is difficult Bitcoins price movements to predict. This is because the leading crypto-currency has never experienced a recession – although they emerged from the Great recession.
An increase in the Trading volume, however, is a positive indicator that should give traders during this bullish recovery, some hope.