High institutional interest driving Bitcoin future contract volumes to new heights
|- Bitcoin future contract volumes continue to push higher, with strong institutional interest.
- Last week trading volumes hit an all-time high, seeing 5671 contracts traded worth some $42.52 million.
Institutional demand in Bitcoin (BTC) futures continues to rise, despite the lagging price of the world’s number one crypto.
According to the Bakkt Bot, a Twitter account which provides real-time data about Bakkt’s trading activity, details that trading volumes for Bakkt’s monthly Bitcoin futures set a weekly record last week, with trading volumes topping $124 Million, representing an 89% increase from the previous weekly record.
Additionally, max open interest on Bakkt’s Bitcoin futures also set a weekly record of $4.3 Million, a 218% increase from its previous weekly record.
It comes following Bakkt’s daily trading volumes hitting an all-time high on November 27, with 5671 contracts being traded worth $42.52 Million, surpassing the previous daily record set on November 22 when volumes hit $20.3 Million.
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