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CME Bitcoin futures volumes have hit a new record

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Futures volumes of CME's Bitcoin have hit a new record since the collapse of March 12, 13,285 contracts negotiated yesterday, Thursday, April 23.

Institutional investors seem to have capitalized on a favorable moment for Bitcoin, at a time when there is much uncertainty in traditional financial markets.

Yesterday, in fact, Bitcoin experienced an increase that led the price to finally reach $ 7,500, after days of fluctuations in which the $ 7 resistance breakout.400 turned out to be a difficult task.

In any case, the volumes recorded yesterday by CME, taking into account that each futures contract contains 5 BTC, they bring the value of the meter in dollars to a figure close to $ 500 million. This is a lower level compared to March 12, when, coinciding with one of the falls fastest and heaviest in the price of Bitcoin, Dollar volumes approached $ 600 million.

The futures market trend and the record set by CME show that Bitcoin is attracting more and more attention.

Even though the safe haven narrative has lost tractionSince Bitcoin has not been able to demonstrate the strength of gold (which in recent days has reached its highest level in the last 8 years, exceeding $ 1,700 per ounce), the trend of these products shows an interest that is still high.

After all, Bitcoin is getting closer to its third halving in a completely different scenario from the previous two. This time, the world is struggling with an economic, health and social crisis that is affecting classical markets and has even buried the price of oil, with the WTI ending negative.

However, liquidity injections are reaching the market, particularly the Federal Reserve from United States. This suggests that There will be a lot of capital to invest, perhaps even in Bitcoin.

In this scenario of uncertainty and insecurity, institutional investors may want to play the Bitcoin card and expect a recovery that could cause the price to rise further than the all-time high of $ 20,000 reached in late 2017.

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