Bitcoin Derivatives Trading Activity Surges, Fueling Speculation of New Price Highs
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Activity in Bitcoin derivatives markets has increased, reminiscent of late 2021 when Bitcoin hit its all-time high price.
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Variables like perpetual futures trading volume and options open interest suggest renewed speculative interest in Bitcoin.
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Expectations of the first US spot Bitcoin ETFs being approved are driving more demand.
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Bitcoin options open interest recently hit a record high of about $14.9 billion on the Deribit exchange.
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The futures curve for CME Bitcoin futures has shifted upwards, with open interest surpassing Binance as institutional participation grows.