Leveraged Funds Take Record Bearish Positions in Bitcoin Futures
The funds likely boosted short positions to take advantage of attractive "cash and carry" yields.
Institutions hold record bullish beets in CME Bitcoin futures as the cryptocurrency shows resilience to negative news.
The largest U.S. regulated market for bitcoin futures has been sounding out cryptocurrency traders to gauge their interest in a listing of futures and options on the Ethereum blockchain’s native tokens.
CME has risen to second place in terms of bitcoin futures open interest, passing Binance and BitMEX.
Trading volumes for CME bitcoin options surged as traders made bull call spreads, anticipating a rally.
Institutional interest in bitcoin futures has plummeted as the DeFi explosion made carry trades less attractive, said Bequant's Denis Vinokourov.