Cryptocurrencies Market: Bitcoin (BTC) Futures Trading Reached Historical Highs

Bitcoin (BTC) is experiencing a good run in the institutional markets, an event that has been represented in the data of the futures trading platforms led by the Chicago Board Options Exchange and the CME investment group. According to statistics published by the Chicago Board Options Exchange (CBOE), on Wednesday, the BTC trading volume exceeded 3 times the daily average of this platform of agreements for future purchases of Bitcoin (BTC), better known as XBT Bitcoin Futures. Is could benefit the entire cryptocurrencies market.

In this way, the market reached its highest volume in the last five months since the CBOE activated the platform last December 2017, the first Bitcoin futures market in the United States.

Kevin Davitt, CBOE’s lead instructor, noted that the platform’s average daily volume is 6,600 quoted futures contracts per day, an average that was constant throughout the week with 3,881 quotes on Monday, rising to 6,653 on Tuesday and 5,634 quoted B TC contracts on Thursday.

Bitcoin (BTC) is becoming interesting for stock exchange markets, improving the cryptocurrencies market, as a whole

In addition, this Wednesday they reported a total of 19,000 traded Bitcoin futures contracts, trading 18,210 futures for May, some 703 for June, and 87 for July.

Davitt says that Wednesday’s volumes are not related to the expiration of contracts, so the platform will verify whether this is an aberration in market volumes or whether there has been a positive increase in Bitcoin (BTC) institutional market.

No doubt, we will be watching to see if this is a volume aberration or if more and more institutional types are moving into cryptomoney. Overall bullish sentiment continues on XBT Bitcoin Futures.

Kevin Davitt, Lead Instructor, CBOE

On the other hand, the CME Group also presented an increase in operations on Wednesday, doubling its contract volume to 11,000 BTC future operations in one day. A figure that confirmed the interest of institutional investors in cryptocurrencies market.

The international stock markets have begun to consider the possibility of incorporating Bitcoin (BTC) into their marketing platforms, highlighting the projects of the Tokyo Stock Exchange, the Bank of Switzerland, and the Ukrainian Stock Exchange. All these initiatives make cryptocurrencies markets penetrate into the traditional finances and become another common asset for institutional and individual investors.

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About the Author: Anna Galvez

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