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Golden Observation | A bullish signal? CME Bitcoin options market continues to heat up



CME Group’s bitcoin options market has been heating up since the halving, with record open interest and volume set last week. According to Skew data, in May this year, the open interest of CME Bitcoin options increased by 10 times. CME competitors such as Deribit, OKExFutures and LedgerX are also breaking records.

What kind of market signal does the heating up of the Bitcoin options market reflect. Generally speaking, open interest refers to the number of contracts held by long parties or sold short by short parties at the end of a certain market in a certain market. It represents the number of contracts existing in the market at that time, and the open interest is equal to the head position of the long position or the head position of the short position. Open interest can reflect the intensity of the conflict between long/short parties. It reflects the willingness of bulls to continue to hold long positions and the willingness of bears to continue to hold short positions.

Golden Morning News | September 19 Overnight Important Updates: 21:00-7:00 Keywords: Yam Finance, European Union, Abkhazia, ETC Labs

1. Yam Finance announced that it has started the migration;

2. The EU will introduce an encrypted asset system in 2024;

3. Foreign media: Abkhazia may lift the ban on cryptocurrency-related activities;

4. Lightning Labs updated the Faraday suite this week, and c-lightning launched version 0.9.1;

5. The U.S. Space Force awards a cybersecurity contract to blockchain company Xage;

6. ETC Labs proposes a 51% attack prevention protocol, which may be launched within 10 days;

7. French and Italian regulators blacklist more crypto scams;

8. Yam Finance: only supports Uniswap YAM/yUSD pool at launch;

9. UNI breaks through 8.3 dollars, the highest rises to 8.66 dollars within a day. [2020/9/19]

As for the further analysis of CME Bitcoin options, TokenInsight senior analyst Wu Xiangjian pointed out in an exclusive interview with Jinse Finance: According to CME data, the exercise price of the CME call option that was traded on May 15 and expires on May 29 is $10,500 - A total of about 1,300 options were open before 13,000, accounting for about 70% of the total open interest (1,869). Calculated on the basis of 5 BTC per contract on CME, the open interest exceeds $64M; the open interest of Put option is very small. From the perspective of an option buyer, this situation can be seen as a bullish signal.

Golden hot search-ethexc list: WICC tops the list: According to the data of Jinse Finance and Economics ranking list, in the past 24 hours, WICC topped the list. The specific top five list is as follows: WICC, EKT, GNX, AE, AAC. [2020/7/21]

The influx of liquidity could be seen as a bullish sign, meaning that crypto derivatives traders are mostly betting on rising prices. Correspondingly, this morning, BTC rose short-term, breaking through the $9,900 mark.

News | BiKi, Niubiquan and Jinse Finance hold the first online halving private meeting: According to the official announcement, the first halving private meeting (live broadcast) held by BiKi, Niubiquan and Jinse Finance will be held on February 2020 It will be held in the BiKi halving community at 20:00 on March 1 (GMT+8). In this live broadcast, Sany, the founder of Niubi, Wang Yukun, the content-ethexc director of Jinse Finance, and Tang Shi, the vice president of BiKi business, will discuss the 2020 halving market together. [2020/1/31]

Regarding the continuous heating up of the options market, some market traders speculate that the new progress of CME Bitcoin options is driven by miners and new institutions entering the market. According to CME, the number of new accounts for this product has exceeded 2,100. Wu Xiangjian, a senior analyst at TokenInsight, pointed out to Jinse Finance: I think the completion of the halving and the reduction of market uncertainty are the main reasons for the growth of the Bitcoin options market. Since the specific transaction details cannot be obtained, it is impossible to infer the driving entity. Simply put, option traders are a relatively professional group of people in this market, and this position shows that Bitcoin is bullish in the short term.

CME Group (CME), the full name of Chicago Mercantile Exchange (Chicago Mercantile Exchange), is the largest futures and options market in the world. It has the most complete and extensive CBOT agricultural product futures and options. In 2019, the average daily trading volume of CME options contracts reached More than 4 million copies. Chicago Mercantile Exchange (CME) is a wholly owned subsidiary of CME Group (Nasdaq: CME), a component of the Russell 1000 Index. CME was founded in 1874. Its predecessor was the Agricultural Products Exchange, founded by a group of agricultural product dealers. At that time, the main commodities listed on the exchange were butter, eggs, poultry and other agricultural products that were not resistant to storage.

CME's bitcoin futures went online in December 2017. By 2019, the total number of bitcoin futures transactions on CME for the whole year exceeded 248w, equivalent to 12.5 million bitcoins, and the average daily trading volume reached 6200, rapidly developing into the world's largest One of the most liquid bitcoin derivatives trading markets in the world. Tim McCourt, general manager of CME Group, believes that the introduction of CME bitcoin options can provide market participants with more flexibility to trade on regulated exchanges and hedge their bitcoin price risks.


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