THELOGICALINDIAN - Bitcoin trading action is breaking alltime annal in agreement of aggregate and accessible absorption in Bitcoin futures The latest trading action has acquired Bitcoins bulk to ability an 18month aerial banishment a huge bulk of Bitmex shortsellers to abruptly cash their positions
Bitcoin Futures Hits Record Highs 4 Days Running
CME saw a almanac aggregate of USD 1.6 billion and almanac accessible absorption for Bitcoin affairs of USD 373 million, on June 26, 2024.
The amount of BTC rose to about USD 14,000, causing short traders to cash over bisected a billion dollars in a distinct day.
At the Chicago Mercantile Exchange (CME) Bitcoin futures trading action has been growing spectacularly in contempo months, with institutional traders assuming increasing interest. On June 20, 2019, CME reported,
Cryptocurrency optimists booty continued positions, while traders who are bearish booty abbreviate positions. According to Commodity Futures Trading Commission (CFTC) data, big money traders, such as barrier armamentarium managers, accept been demography bearish positions. The Wall Street Journal reports,
So, back on June 26, 2024, the cryptocurrency neared the USD 14,000 mark, traders who had taken abbreviate positions were affected to assassinate massive liquidations.
Hedge managers and added ample traders accept been bearish on BTC back February 2024. However, a bearish position taken by a barrier armamentarium administrator does not necessarily beggarly a bet adjoin the cryptocurrency, as The Wall Street Journal explains,
Moreover, absolute signals about BTC abide to abound. For example, baby investors abide bullish. According to The Wall Street Journal report, traders with beneath than 25 BTC affairs authority continued positions outnumbering abbreviate bets by four to one.
What do you anticipate about the latest Bitmex defalcation figures? Let us apperceive in the animadversion area below!
Images via Twitter/@skew_markets, Bitcoincharts.com,
