All articles tagged with #cme futures
Institutional interest in Bitcoin is at an all-time high, with record numbers of CME Bitcoin Futures open interest and major corporations like MicroStrategy and Trump Media increasing their holdings, driven by economic and geopolitical uncertainties, signaling Bitcoin's shift from a speculative asset to a strategic, long-term investment.
Institutional interest in Ethereum has surged, with CME Futures Open Interest reaching a record high of $2.5 billion, indicating a significant increase from earlier in November. This rise in interest has led to Ethereum gaining ground against Bitcoin, as evidenced by the ETHBTC ratio's 15% increase. However, the sustainability of this momentum depends on whether the ETHBTC ratio can maintain its position above the 50-day Simple Moving Average. Despite recent gains, the market remains cautious due to potential price volatility from hedge fund strategies.
Bitcoin's price slid below $27,000, erasing its weekend gains and filling a gap in CME futures outstanding since the weekend trip higher. Traders are divided on the direction of BTC/USD, with some predicting a breakout to $30,000, while others remain risk-off until a clearer direction becomes apparent. Bitcoin's price finished May down 7%, and the largest cryptocurrency is 5.5% lower in Q2, contrasting Q1 gains of over 70%. Downside support levels are tied to key moving averages (MAs), including $26,250, $26,000, and $23,035 for the 200-week, 20-week, and 200-day MAs, respectively.
Bitcoin's price briefly spiked above $28,000 but encountered resistance below its local highs from around the weekly close, and stocks also treaded water after the opening bell. The looming gap in CME futures markets and Bitcoin’s potential to “fill” it next is on the radar, with a blank space on the futures chart between $26,900 and $27,850 providing a potential short-term downside target for the spot price. Traders are optimistic about Bitcoin's bid liquidity and potential triple breakout for Bitcoin when it comes to market structures.
Bitcoin's price has risen by 7.5% since Friday, reaching $27,200 on Bitstamp, but analysts warn that a weekly close below $27,550 could lead to further losses. Traders are cautious, with some demanding bullish reclaiming of levels around $27,000 before considering long positions. Meanwhile, there is potential for a "gap" in CME Bitcoin futures markets to appear at the May 15 open.