Bitcoin futures the CBOE and CME fail. What’s going on?

TradeBlock, a new study shows that during the peak in the summer of 2018, the aggregate volume of trading almost reached parity with the performance of spot markets in five major US exchanges. However, since the volume of trade in futures on BTC has dropped significantly. In December 2018, i.e. one year after the launch of these trading tools, exchanges, fixed the lowest amounts of trading futures on Bitcoin. Moreover, the majority of transactions falls solely on CME. Initially, two sites were side by side, but in February of 2018, the distance between them beginning to grow steadily.

We will remind, the peak indicators took place in July 2018, when the volume of futures trading exceeds $ 5 billion. At the same time, indicators of spot markets for digital currency exchanges in the United States fell. For the five largest cryptomeria USA — Coinbase, itBit, Kraken, Bitstamp and Gemini — he has sharply fallen from 20 to 5 billion dollars.

In the period from January to October of 2018, the volume of spot trading following the trend price of Bitcoin fell by 85 percent. However, by the end of 2018 volumes have begun a gradual upward movement.

Source: Bloomberg

After the peak of the futures market in July and August of 2018 volumes fell in September by almost half, and since then has been steadily declining. From downtrend has beaten only November, when volumes grew on the back of high volatility and number of price breakouts. A decrease in futures trading in the second half of 2018, in conjunction with the reconstruction of spot markets led to the progressive development of spot trading in early 2019.

It is important to note about scheduled for 2019 launch of several products futures with Bitcoin from companies Bakkt, Nasdaq, ErisX and CoinFLEX. Will be interesting to see how these events will affect the volume, given their widespread coverage in the media. More data look at cryptodata.

Subscribe to our channel in the Telegram. Here soon!

Leave a Reply

Your email address will not be published. Required fields are marked *