Against the backdrop of a revival in the spot market, open interest in Bitcoin futures on the Chicago Mercantile Exchange (CME) has recovered to levels seen at the end of August 2020. This is according to data from the CFTC
The chart below shows that the number of open BTC futures positions has been rising steadily for four weeks in a row after a decline that lasted almost a month and a half.
The total number of traders is also rising, with the majority taking long positions.
Longs are preferred by relatively small players in the Nonreportable category. According to historical data, these market participants favour long positions regardless of the price direction.
Among Non-Commercial players (hedge funds and other large market participants), short positions slightly predominate.
According to the latest report, another institutional player (Commercial) opened 28 long positions.
Overall, the CME picture points to growing interest in BTC among large traders. However, compared with the unregulated segment, trading volumes of Bitcoin futures on the Chicago Mercantile Exchange remain modest.
Trading volumes of Bitcoin futures across exchanges. Source: skew.
The largest trading volumes are at Binance, with CME in tenth place.
Earlier, the regulated Bakkt exchange stated a record volume of Bitcoin futures.
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