Crypto

CME’s Open Interest Suggests a Bitcoin Price Jump is Imminent

Looking at the current Bitcoin price momentum, some cautious optimism appears to be warranted. Open interest on CME’s Bitcoin options seems to confirm as much, although no immediate push to $10,000 should be expected.

Many people would like to see the value of Bitcoin hit five digits once again.

Are Things Looking up for Bitcoin?

When that happens, the world’s leading cryptocurrency may slowly begin moving to a new all-time high.

If and when such a scenario will unfold exactly, remains to be determined.

One factor that might give speculators some hope is the current open interest on

CME’s Bitcoin options.

That figure has reached an all-time high of $259 million, or an increase by nearly 1,900% since May 1st.

Related Post

This seems to confirm that institutional investors seeking exposure to Bitcoin are making a lot of money as of right now. 

A higher open interest can also be interpreted as more interest in the Bitcoin options product itself, and by extension, Bitcoin. 

All of this seems to confirm that  a new price push isn’t as unlikely as some may think.

Reaching a new all-time high, however, will require a lot of effort.

For now, that seems an unlikely scenario, but things can always change in a heartbeat.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

NYC Entrepreneur Wins Big with BTC: BlockDAG Could Be Next

Mia Sanders, NYC Entrepreneur, Made Millions by Investing in BTC: Could BlockDAG Be Next for…

17 hours ago

Miami Artist Earns $5.2M with Solana: BlockDAG’s Future Prospects?

A Miami Artist's $5.2M Solana Success: Does BlockDAG Hold Equal Promises for 30,000x ROI? Success…

23 hours ago

Chainlink And Aptos Investors Migrate To The Presale Of New Crypto Instant Funding Prop Firm FXGuys ($FXG)

Recent market trends show that the new DeFi coin, FXGuys ($FXG), has been the go-to…

24 hours ago

Polkadot Price Prediction; Can XLM’s Rally Hold Strong as New Crypto Brings Passive Income? 

Curious about where the Polkadot price is headed? Or maybe you’re wondering if XLM’s rally…

1 day ago

Best Crypto Presale to Watch: Could This Be the Next 9000% Breakout Star?

Any investor can achieve outstanding profit by selecting the best crypto presale in the growing…

1 day ago

Influential Support for BlockDAG; Updates on Solana & XRP

Crypto Influencers Eye BlockDAG’s Bullish $142.5M Presale & BULLRUN100 Offer; Latest on XRP & Solana…

1 day ago