According to data from TradingView, Bitcoin futures in the Chicago Mercantile Trade (hereinafter referred to as CME) exceeded $10,000 on Thurs, June 20, Japan. This is actually the first-time that the price of Bitcoin futures provides exceeded $10,000 since March 2018. In addition, the total worth of CME's open interest (Open up Interest) contracts hit a new higher, achieving $280 million.
CME Bitcoin futures open positions1 only place a record high of 5,311 agreements in June 17, totaling 26,555 bitcoins, at a cost of approximately People$246 million.
[Be aware*1]: For futures or options, open up interest identifies the number of unclosed agreements when the market ends one day of investing. Each contract will have a purchaser and a seller, and the open interest only counts the amount of the purchase or sell side.
In only three days, Bitcoin had 5,827 open up positions on Thursday, totaling 280 mil U.S. bucks. In this regard, CME's Twitter posting stated:
CME Bitcoin futures open up positions set an archive for the fourth consecutive day. A complete of 5,827 open positions (approximately 29,135 bitcoins, nominal value1 of approximately US$280 million) on June 20, a rise of 25% from last Friday .
CME Bitcoin futures open interest reaches a record for a fourth consecutive day, with 5,827 agreements traded about June 20 (29,135 comparative bitcoin; ~$280M notional) and a 25% increase from last Fri. pic.tweets.com/oUQNyiktAA
- CMEGroup @CMEGroup) June 21, 2019
[Notice*2]: Nominal value, also known as nominal value, refers to the full total asset value represented from the leverage position established by investors for margin trading or investing derivatives. Nevertheless, the leverage of choices, futures, or foreign exchange margin trading can be very high, and the nominal worth of the positioning established from the investor can be often the principal invested.
The amount of institutional investors participating in CME Bitcoin futures appears to be rising month by 30 days, and the total number of open positions and prices continue to hit new highs.
Nikolaos Panigirtzoglou, chief executive of the Us banking large JP Morgan Run after (JPM), also recently commented in a report on Bitcoin that the marketplace underestimated the impact of Bitcoin futures and that the market structure of Bitcoin has begun to improve. , Seems to be increasingly affected by institutional investors.