Are Bitcoin Traders Turning Optimistic Right Now?
The state of the recent Bitcoin derivatives market was fairly dry. However, traders have started re-stepping into the arena. In fact, the futures OI has registered a substantial increase since the first week of January. On Binance alone, the reading of the same inclined from Jan. 5’s $2.44 billion to $3.16 billion towards the end of last week. As far as the aggregate numbers are concerned, data from C OI nglass revealed that the BTC futures OI on all exchanges rose from $9.37 billion to $11.1 billion in the same timeframe. BTC Futures OI | Source: Coinglass Also Read: Is a “Bigger Breakout” Looming for Bitc OI n, Ethereum? Alongside Binance’s rise, it is interesting to note that traders have started increasingly trading on CME as well. From the first week of January’s $1.1 billion lows, the number is already up to $1.9 billion. In fact, in terms of standings, CME, more commonly known as the “institutional exchange,” has glided up to the second...