According to Arcane Research, this is the highest level seen since the price peak in 2019.
Open Interest on CME surged to a new yearly high on Friday, just above the levels from February. This is the highest level seen since the price peak in 2019 and shows that professional traders are coming back into the #bitcoin market. (Source: @skewdotcom) pic.twitter.com/KAZR3A3Anx— Arcane Research (@ArcaneResearch) May 4, 2020
The rise comes right after the 50% drop in March when the daily trading volume of bitcoin futures on CME plummeted by more than 50% from $493 million in February to $242 million in March.
Earlier iHodl reported that according to Pantera Capital CEO bitcoin price can peak at the $115 212 mark if history repeats itself.
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