27 Jun 2023

Third biggest CME week ever for BTC

A U.S.-led BTC rally decoupled from equity indexes brought to you by institutional traders.
Ahead 27 June

In Short

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
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