CryptoBitcoinBitcoin (BTC) Closes the Gap to $36,000 as the CME Takes Over...

Bitcoin (BTC) Closes the Gap to $36,000 as the CME Takes Over 25% of the Market Share

In the last week of October, reached an annual pinnacle, soaring to an impressive $36,000 per BTC. This surge not only signifies a yearly high for Bitcoin but also heralds a momentous occasion as the cryptocurrency successfully closed the major price gap on the CME Bitcoin chart, a development closely watched by traders and analysts alike.

BTC to USD by CME gaps, which have become a captivating aspect of Bitcoin’s trading patterns, materialize when disparities arise between Bitcoin’s closing and opening prices on the Chicago Mercantile Exchange (CME). Analysts and traders closely monitor these gaps as they offer valuable insights into potential price movements.

The significance of the CME goes beyond its role in creating these gaps; it is, in fact, the world’s largest and leading derivatives marketplace, with a history dating back to 1898. CME’s regulated and cash-settled futures have long been favored by institutions seeking exposure to cryptocurrencies without actual ownership.

Institutional BTC trading at all-time highs

Amid the recent fluctuations in Bitcoin’s price, an interesting statistic has emerged, presented by , senior analyst at K33 Research. Lunde noted that open interest (OI) in CME BTC futures has surpassed 100,000 for the first time ever. Furthermore, CME’s market share has now reached an all-time high of 25%, rapidly approaching Binance in terms of perps and futures.

The record-breaking increase in stats in CME BTC futures signals a new era, in which major players, especially traditional institutions, are increasingly embracing trading.

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Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

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