Digital Currency Revolution Series: A Snapshot of Surge in Bitcoin Derivatives Volumes

Bitcoin derivatives are featuring to become crypto-avenue's "buzz word" of late, especially in last two-three months as trading on CME, which is the only regulated bitcoin futures destination, has hit all-time-high in last two months running (precisely, $4,88 bln and $6.6 bln in April and May months respectively).

BitMEX and Kraken are also relishing the fun of raising funds from non-accredited investors amid much of the same due to recent volatility, while Deribit options may have found a more institution-based audience.

Bitcoin price has been spiking higher from the last couple of weeks, rose from the lows of $3,405.30 levels to the recent highs of $8,390.95 after surpassing $5,890 levels (at Bitfinex). 

Technically, after BTCUSD has bottomed out at $3,122 levels, and bullish engulfing pattern has occurred at $3,943 levels on weekly and at $8,200 levels on daily plotting, consequently, bulls have taken-off rallies above EMAs. 

The pair is currently, trading sideways at $7,917 levels which is almost more than 78% so far (i.e. 28% in April month and 50% in April month series).

Well, the renowned cryptocurrency research firm ‘Diar’ has indicated that institutional traders recently registered record high volumes on bitcoin (BTC) derivatives exchanges as per their recent publication.

Wherein, it is noticeable that Bitcoin derivatives trading on the Chicago Mercantile Exchange (CME) hit an all-time-high for two months in a row.

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards 25 levels (which is mildly bullish), USD is at -21 (mildly bearish), while articulating (at 11:22 GMT). 

For more details on the index, please refer below weblink:

  • Market Data

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