SEC’s spot Bitcoin ETF As the probability of their applications being approved increases, the interest of institutional investors in Bitcoin also increases.
Because of the expectation that the SEC will approve spot ETFs, institutional investors moved upward and CME Bitcoin futures Open interest reached a record level.
Coinglass According to data, open interest in BTC futures has increased steadily since October and reached a historical peak of $6.21 billion. At the time of writing, it is around $6.19 billion.
At this point, evaluating this increase K33 Research analysts, He stated that the increase in open interest in Bitcoin futures on CME shows that investors are expecting an increase in BTC and the market.
“As the expectation for spot Bitcoin ETFs to be approved increases, investors’ bullish expectations also increase. However, investors should not forget that after such a large increase in open interest, negative news may trigger a sales wave.
Bitcoin’s decline after its initial jump triggered a wave of liquidations in the market, causing a massive drop in open interest in a short time. “
Bitcoin continues to trade at $46,630 at the time of writing.
*This is not investment advice.
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