{"id":51080,"date":"2021-10-12T18:23:22","date_gmt":"2021-10-12T15:23:22","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51080"},"modified":"2025-09-02T21:47:02","modified_gmt":"2025-09-02T18:47:02","slug":"institutions-push-bitcoin-price-toward-may-highs","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/institutions-push-bitcoin-price-toward-may-highs\/","title":{"rendered":"Institutions push Bitcoin price toward May highs"},"content":{"rendered":"<p>The share of <span data-descr=\"\u0427\u0438\u043a\u0430\u0433\u0441\u043a\u0430\u044f \u0442\u043e\u0432\u0430\u0440\u043d\u0430\u044f \u0431\u0438\u0440\u0436\u0430\" class=\"old_tooltip\">CME<\/span> in total open interest (OI) on Bitcoin futures over the past two weeks rose from 12% to a record 17% since February 2021, according to Arcane Research.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The Weekly Update \u2014 Week 40<br \/>\ud83d\udd39<a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> continues to outperform altcoins. Has bitcoin\u2019s time to shine finally arrived?<br \/>\ud83d\udd39Institutions are piling into the CME futures, betting on a futures-backed ETF approval<br \/>\ud83d\udd39Mining profitability surges in October<a href=\"https:\/\/t.co\/97Q8xqhfdn\">https:\/\/t.co\/97Q8xqhfdn<\/a><\/p>\n<p>\u2014 Arcane Research (@ArcaneResearch) <a href=\"https:\/\/twitter.com\/ArcaneResearch\/status\/1447915603117871105?ref_src=twsrc%5Etfw\">October 12, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This explains one of the main reasons for <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-price-corrects-after-rising-above-57000\">the current Bitcoin rally<\/a> to May highs.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"794\" height=\"555\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-566.png\" alt=\"Opinion: institutions pushed Bitcoin price toward May highs\" class=\"wp-image-152627\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/1-566.png 794w, https:\/\/forklog.com\/wp-content\/uploads\/1-566-300x210.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/1-566-768x537.png 768w\" sizes=\"auto, (max-width: 794px) 100vw, 794px\" \/><figcaption>Data: Arcane Research.<\/figcaption><\/figure>\n<\/div>\n<p>Experts noted that open interest rose to 340,000 BTC in the period from September 26 to October 10, marking the fastest pace since July. That period was also accompanied by increased buying activity. The largest contribution came from CME traders \u2014 the figure rose from $1.5 billion to $3.3 billion.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"816\" height=\"557\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/4-182.png\" alt=\"Image: Bitcoin price rally toward May highs\" class=\"wp-image-152628\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/4-182.png 816w, https:\/\/forklog.com\/wp-content\/uploads\/4-182-300x205.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/4-182-768x524.png 768w\" sizes=\"auto, (max-width: 816px) 100vw, 816px\" \/><figcaption>Data: Arcane Research.<\/figcaption><\/figure>\n<\/div>\n<p>In the context of <span data-descr=\"\u0440\u0430\u0437\u043d\u0438\u0446\u0430 \u043c\u0435\u0436\u0434\u0443 \u0446\u0435\u043d\u043e\u0439 \u0444\u044c\u044e\u0447\u0435\u0440\u0441\u0430 \u0438 \u0441\u043f\u043e\u0442\u043e\u0432\u043e\u0439 \u0446\u0435\u043d\u043e\u0439 \u0430\u043a\u0442\u0438\u0432\u0430\" class=\"old_tooltip\">basis<\/span> relative to unregulated venues, CME futures began trading at a premium in October, something last seen in July, and for the year 2021 overall it was rare.<\/p>\n<p>Analysts saw this as a signal of a more &#8216;healthy&#8217; rise in the price of the first cryptocurrency. They cited a bullish forecast by CME traders regarding the chances of the US SEC approving a Bitcoin ETF.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"797\" height=\"581\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/2-482.png\" alt=\"Image: Bitcoin price rally toward May highs\" class=\"wp-image-152629\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/2-482.png 797w, https:\/\/forklog.com\/wp-content\/uploads\/2-482-300x219.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/2-482-768x560.png 768w\" sizes=\"auto, (max-width: 797px) 100vw, 797px\" \/><figcaption>Data: Arcane Research.<\/figcaption><\/figure>\n<\/div>\n<p>On the perpetual-contracts market, the funding rate remained in positive territory (in the range of 0.01\u20130.03%), signaling maintained positive price expectations. The metric did not reach March\u2013April levels (0.1%), preceding Bitcoin&#8217;s <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-price-clears-63000-hitting-a-new-high\">historic high<\/a>.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"826\" height=\"544\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/3-293.png\" alt=\"Image: Bitcoin price rally toward May highs\" class=\"wp-image-152631\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/3-293.png 826w, https:\/\/forklog.com\/wp-content\/uploads\/3-293-300x198.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/3-293-768x506.png 768w\" sizes=\"auto, (max-width: 826px) 100vw, 826px\" \/><figcaption>Data: Arcane Research.<\/figcaption><\/figure>\n<p>Glassnode analysts noted that Bitcoin&#8217;s return to May highs <a href=\"https:\/\/forklog.com\/en\/news\/analysts-spot-optimistic-on-chain-signals-amid-bitcoin-rally\">is accompanied by<\/a> positive trends in accumulation, hodler behavior and rising on-chain activity.<\/p>\n<p>Earlier, Pantera Capital CEO Dan Morehead <a href=\"https:\/\/forklog.com\/en\/news\/pantera-capital-ceo-warns-of-bitcoin-sell-off-after-etf-approval\">did not rule out<\/a> that the launch of a Bitcoin ETF could end the bull market.<\/p>\n<p> Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 all the news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The CME&#8217;s share in total open interest (OI) on Bitcoin futures over the past two weeks rose from 12% to a record 17% since February 2021, according to Arcane Research. This is one of the main reasons behind Bitcoin&#8217;s rally to May highs.<\/p>\n","protected":false},"author":1,"featured_media":51081,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,383,1168,1156],"class_list":["post-51080","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-cme-group","tag-crypto-derivatives","tag-institutional-investors-and-whales"],"aioseo_notices":[],"amp_enabled":true,"views":"7","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/51080","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=51080"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/51080\/revisions"}],"predecessor-version":[{"id":51082,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/51080\/revisions\/51082"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/51081"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=51080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=51080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=51080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}