27 Jun 2023
Third biggest CME week ever for BTCA U.S.-led BTC rally decoupled from equity indexes brought to you by institutional traders.
The BlackRock and EDX announcements caused massive institutional activity to emerge in BTC, leading BTC to reclaim $30k.
- BTC OI on CME up 42% in ten days
- IV spiking higher from all-time lows
- U.S. market hours pushing BTC higher
BTC has recovered above $30k after seeing 14% gains in a week where BTC’s 30-day correlation to U.S. equities fell to negative levels. A majority of the momentum over the past week has occurred amidst U.S. market hours, with a significant institutional footprint. CME’s futures premium