The Bears Will Be Sad! CME Bitcoin Premium Passes Binance, Here’s What It Means!

although bitcoin Although it failed to break the $25,000 resistance, it remains strong. Rising fast after breaking $20,000 Bitcoin has been moving sideways in the $23,000-24,000 range for a long time.

in bitcoin Although investors who do not believe in bullishness expect further declines, institutional investors seem to be impressed by Bitcoin’s strong stance.

Arcana ResearchAccording to information obtained from CME Bitcoin futures, which is predominantly used by institutional investors, the premium has reached a higher level than Binance.

As can be seen from the graph, this is not a situation we encounter very often. Accordingly, the bulk of futures in Bitcoin comes from CME. This means that institutional investors re-started with the recent rises. bitcoin It shows that they are interested in business.

The premium on CME climbed to 8.7% year-on-year, while other exchanges, including Binance, saw the most at 6.3%.

According to Arcane Research, this high premium on the CME represents the highest positive fundamental data since Bitcoin peaked in November 2021.

Since the beginning of the year, Bitcoin has also risen in the USA, along with the Nasdaq and technology shares. However, Bitcoin’s rise more than others caused attention to be turned to it.

It is typical of bull markets when futures of a product are traded at a high premium compared to the standard price, and bear markets when it is traded at a low premium.

Arcane research analyst Vetle Lunde interpreted this data and told Coindesk. “The bull is back” gave the message.

Arcane ResearchAccording to , the number of open interest and futures contracts on the CME is 80596 BTC, accounting for 70% of global open interest.

According to Lunde, this higher premium could cause more traders to return to the market.

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