How Bitcoin became the favorite of futures traders on this derivative exchange

On CME Group, BTC's futures monthly trading volume closes July at its highest in the last year.

BTC futures trading allows traders and investors alike to speculate on the future price movements of the leading coin by placing bets on whether it would go up or down over a specific period in the future.

With over 120,000 active users spread across 60 countries, CME Group is one of the world’s largest derivatives marketplaces. It boasts of high patronage from many institutional investors, including, which recently made its Bitcoin futures ETF filing. This makes trading activity on the exchange one to take note of.

The trading volume of BTC futures on the exchange within the last 30 days totaled $53.3 billion at press time. Comparatively, a year ago, this figure stood at $1.47 billion. This represented a remarkable surge of more than 3500% in CME Group’s BTC futures monthly trading volume over the past 12 months.The leading coin’s future markets revealed that most bets placed last month were made in favor of a price rally.

When this is positive, it means that more long positions are being opened and often reflects the market’s general sentiments. A negative funding rate, on the other hand, suggests declining interests with more short trading positions being entered into. With the past few months marked by a growing count of long BTC trading positions, and BTC’s momentary trading above $30,000, short traders have been plunged into losses.

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