CME Bitcoin futures hit record high, but uncertainty looms above $36K
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Lastly, the cryptocurrency market has been impacted by increased returns from traditional fiat fixed income operations, while the once lucrative cryptocurrency yields vanished following the Luna-TerraUSD collapse in May 2022. This movement has had lasting effects on the lending sector, leading to the collapse of several intermediaries, including BlockFi, Voyager, and Celsius.
At the moment, there is undeniable growing institutional demand for Bitcoin derivatives, according to CME futures data. However, this may not be directly related to lower spot availability, making it difficult to predict the supply between $36,000 and $40,000—a level untested since April 2022.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
