Julio Moreno, CryptoQuant research director, stated that Trump’s win has increased Bitcoin demand among US investors, making the Coinbase premium positive for the first time since October 18. Coinbase is a popular platform for US investors, and its premium shows increased buying interest, particularly from institutional investors.
The Chicago Mercantile Exchange (CME) saw a record-breaking daily trading volume in Bitcoin futures at $13.15 billion yesterday. Vetle Lunde, K33’s research head, notes that CME’s 2024 Bitcoin futures average daily trading volume is currently at $4.56 billion, surpassing the trading volume surge during the FTX crash in early November 2022.
This milestone reflects a shift in Bitcoin trading activity, with institutional investors playing a more significant role. Moreover, data shows that in just one week in November, the average monthly open interest in CME Bitcoin futures reached a record high of $11.73 billion.
