January 14 was the best trading day of the year for many cryptocurrencies, which saw double or even triple-digit percentage gains. It was also a good day for futures markets, where more than $25 billion in trades was placed on Tuesday. The result constituted the busiest day for futures in almost three months, with the Binance-affiliated FTX seeing much of the action.
Also read: Institutional and Retail Bitcoin Futures Demand Continues to Climb
Bitcoin Shenanigans Get Futures Traders Buzzing
Tuesday, Jan. 14 was all about bitcoin – all the bitcoins, to be precise. BTC, BCH, BSV, BCD, and BTG all posted their best day in months, borne along by Craig Wright’s shenanigans and rumors of bonded couriers delivering private keys. While retail traders scalped what they could from mega-pumps on the spot market, futures traders took a longer view, particularly on platforms like Bakkt, whose monthly futures have been growing steadily. Retail still dominates futures volume, however, as seen in derivatives analysts Skew’s breakdown of Tuesday’s…