CME November Bitcoin Call Options Notional Value Exceeds $350 Million
Joshua Lim, co-founder of cryptocurrency broker Arbelos Markets, says the Bitcoin derivatives market on the Chicago Mercantile Exchange (CME), which is a favoured venue for established, traditional institutional participants, has experienced some of its busiest days recently. Data shows that over the past week, the notional value of November BTC calls exceeded $350 million, with a breakeven price of around $79,300 at expiry at the end of November, meaning these traders are expected to profit from next month's rise in BTC prices. ‘This could be a good sign that liquidity in the crypto derivatives market will grow as the asset class matures’, Joshua Lim said.
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