Bitcoin has seen a surprise Saturday surge to a 12-month high as $15,000 becomes a real possibility in the near term.
Bitcoin futures open interest is currently at an all-time high as traders expect more upside for BTC’s spot price.
Bitcoin closed July at $11,351, according to Messari.
Multiple indicators are signalling that professional traders are bullish on Bitcoin derivatives, suggesting that the $10,000 level could soon be tested.
The U.S. commodities regulator has a four-year plan for fostering responsible innovations in the crypto asset space.
CME Group sees a new all-time high for combined Bitcoin derivatives open interest, with options driving the momentum.
Open interest for CME bitcoin futures made a new all-time high of just under $500 million on Friday. CME’s bitcoin futures market are growing faster than nearly every other bitcoin futures market on a percentage and real growth basis.
Renaissance Technologies’ market-crushing Medallion fund is considering jumping into bitcoin futures, recent regulatory filings show.
Bitcoin slid Monday to its lowest point in the past seven days, with traders saying bearish signals are appearing.
Open interest in XBT/USD on BitMEX has crashed by over 50 percent from 115,000 BTC to 55,000 BTC over the past 12 days.