June 18, 2024

CME Bitcoin Futures Trading Volume Falls Nearly $ 1 Billion In Three Days

On February 18, the trading volume of Bitcoin futures on the Chicago Mercantile Exchange (CME) amounted to $1.1 billion. The cherished markAt $ 1 billion, the indicator exceeded only the third time in history, but then began a rapid decline, writes Cointelegraph with reference to data from the analytical service skew.

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CME Bitcoin Futures Trading Volume Falls Nearly $ 1 Billion In Three Days

Skew Data

The next day, the price of Bitcoin rushed down, without closing the gap around $10,500. Already on February 21, the volume on the CME was only $118 million &#8212; the drop from the weekly peak was almost 90%.

On Monday, February 24, the figure recovered to $ 444.3 million. According to Bitwise, in the meantime, only $ 16.9 million was traded on Bakkt.

The historical record at CME was set in May last year &#8212; then the trading volume reached $1.3 billion.

Recall that on January 13, CME launched the trading of bitcoin options.