After the market opened, CME Group temporarily suspended the trading of Bitcoin futures, and the huge gap between derivatives and related crypto assets exceeded $3,000.
According to a report, it was this huge futures gap that “caused huge upward volatility” that caused trading to be suspended. Futures vacancies are caused by information or investor sentiment changes that occur when the market is closed or not trading.
According to reports, the Chicago Mercantile Exchange (CME) has a huge gap in futures because Bitcoin, which is traded on the spot market every day, rebounded to an all-time high of $28,422 before falling back.
Before the weekend rally, Bitcoin trading on December 24 reached a peak of nearly $25,000. The difference between Thursday’s high and the new all-time high resulted in a huge difference between the spot and futures markets when CME trading resumed on December 28.
Due to the misalignment of trading time between the spot market and the futures market, this gap may always be negative or positive. Aggressive traders can explain and use these gaps to make profits.
At the same time, because CME has experienced an unusually large gap, Bibert According to reports, the new historically high ETH open interest is $2.21 billion. After the price of ETH broke the $700 mark for the first time since May 2018, a new record was set on December 27. Starting on November 28, ETH has soared by nearly 40%, from $537.80 to $745.05 on December 28. However, at the time of writing, the token has fallen to $729.50.
At the same time, as explained in a report, the ETH rally appears to be “related to a large number of tokens being invested before the launch of Ethereum 2.0 on December 1st”. In addition, the report is located in the Dune Analytics data and added: “More than 1.4 million ETH has been locked.” In addition, the derivatives exchange CME Group will launch Ethereum futures in February 2021, waiting for regulatory approval. Approved.
What is your opinion on the huge gap in CME Group Bitcoin futures? Share your views in the comments section below.
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