Bitcoin Futures quickly became the darling, OI on BitMEX and OKEx all hit $1 billion
Bitcoin Futures quickly became the darling of institutional investors when OI (open interest rate) spiked by 60% in 2020.
OI Bitcoin Futures on BitMEX and OKEx hit $1 billion
Data from Skew Markets shows that OI on exchanges offering Bitcoin futures is currently at more than $ 4 billion.
BitMEX & OKEx both > $1bln pic.twitter.com/zzCT7J5X87
— skew (@skewdotcom) February 3, 2020
More than half of them are derived from two companies, the giant derivative company BitMEX and the exchange OKEx. Both have OI levels that exceed $ 1 billion.
On Monday, Deribit confirmed that monthly Bitcoin Futures options revenue is up 70%.
The latest data shows a special month for Bitcoin Futures, accompanied by a nearly 35% price increase this year.
Analyst Scott Melker summarized in a tweet on Sunday that “with OI on BitMEX hitting a billion, volatility is almost assuredly coming.”
With Bitmex Open Interest hitting a billion, volatility is almost assuredly coming. We aren’t staying at 9400 for long. The next move should be significant and come relatively soon.
— The Wolf Of All Streets (@scottmelker) February 2, 2020
- The Bitcoin Futures Listed On CME Has Doubled In The First Few Days Of 2020
- BitMEX XBTZ19 Bitcoin Futures Contracts Will Result In High Bitcoin Price Volatility