The Bitcoin (BTC) futures market reawakened in early 2020, following more active price action on the spot markets. Across the board, leading futures trading platforms saw significant growth.
Bitcoin Futures Volumes and Open Interest Peak as Prices Move
Bitcoin futures bet on the price direction, and open interest as well as trades increased with the promise of higher volatility.
Serious bitcoin futures volumes yesterday – $20bln+ on our radar (not an exhaustive count) pic.twitter.com/6kCSFRq6cy
— skew (@skewdotcom) January 9, 2020
Once again, crypto-to-crypto exchanges held the lead when it comes to futures trading. OKEx and Huobi remained at the top, with BitMex the other big influence on the futures markets.
Bakkt Open Interest Breaks Record
Bakkt futures remain relatively slim in comparison to the other markets, but are seen as a sign of mainstream adoption. Bakkt futures also post growing volumes, with a pickup in activity in the past few days.
Wednesday’s Bakkt Bitcoin Monthly Futures:
Traded contracts: 4107 ($32.59…