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Wednesday

01 April 2020

Bitcoin Futures Hit 3-Month High in Frenetic Tuesday Trading - Bitcoin News

Bitcoin Futures Hit 3-Month High in Frenetic Tuesday Trading - Bitcoin News


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Also read: Institutional and Retail Bitcoin Futures Demand Continues to Climb.

While retail traders scalped what they could from mega-pumps on the spot market, futures traders took a longer view, particularly on platforms like Bakkt, whose monthly futures have been growing steadily.

Of these,FTXandDeribitsaw particularly strong demand for futures options on Tuesday, with volumes up around 400% and 500% respectively.

11, FTX launched cash-settled bitcoin options, which passed $1 million in volume within hours of going live.

A multi-million dollar “strategic investment” from Binance has enabled CZ’s megalith exchange to lend its expertise to the fledgling FTX, with a view to cornering the retail futures market between them.

Regardless of which retail exchanges hold sway, the proliferation of user-friendly crypto derivatives is a boon to traders seeking an on-ramp to a world of bitcoin options.

Having mastered the simplified derivatives options presented to them here, traders can then gravitate to “full fat” derivatives exchanges, with Binance and FTX providing the next step up in terms of accessibility, leaving Bitmex and Deribit to more experienced traders.

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