June 11, 2021- 10:22 p.m.
Following the recent drop in the price of bitcoin and other crypto assets, hedge funds at the Chicago Mercantile Exchange are rolling their short bets into other markets that they deem more lucrative in the short term.
Their absence has led to a dramatic drop in open interest in bitcoin futures at the exchange and highlights the critical role that this segment plays in bootstrapping liquidity for institutional derivatives markets. That said, this observation could also be seen as another signal that the crypto market is steadying and getting ready to resume its upward trajectory.
Comply with me on Twitter or LinkedIn.
I write about digital property developments and tinker concerning the Forbes Digital Belongings instruments and performance our viewers require.
My previous roles have been conducting capital markets analysis for institutional audiences. I now apply this analytical experience to assist particular person buyers decipher how digital property are adapting to the enterprise of monetary companies.Â
I wrote my first digital property report in 2016 coping with the highest 10 blockchain platforms with promising use instances in capital markets. Previous to my analyst days, I used to be head of gross sales for Interbank FX, a fast-growing brokerage agency that was ranked #46 in 2008 by INC journal. I additionally labored for Credit score Suisse and BankBoston in analysis roles and was a treasury analyst for a multi-billion non-profit group.
