The daily trading volume of Bitcoin futures on the Chicago Mercantile Exchange (CME) fell on Friday, February 21, to $118M, according to data provided by analysis platform Skew. This is its lowest level since December 31, when this figure fell to $112M.
At the same time, just three days earlier, on February 18, the trading volume jumped to $1.1B for the first time since June 27 last year and for the third time in the platform's history. As a result, trading volumes have slid by 90% in just 3 days.
At the same time, the volume of active positions (open interest) remains at $338M, its highest level in 7 months. CoinDesk analyst Omkar Godbole has noted a drop in trading volumes with higher open interest could be considered as a sign that investors are holding their positions and suggests a continuation of the previous movement.
The trading volume of Bitcoin futures on CME reached its all-time high $1.3B, in May 2019.
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