CME Bitcoin futures volume spikes to $70B amid shifting market dynamics 
Quick Take
This November, the aggregated monthly trading volumes of CME Bitcoin futures have spiked to an impressive $70 billion. This considerable surge, denoting a heightened investor interest, parallels the top of the bull market for Bitcoin observed in Nov. 2021 when the trading volume touched $80 billion.
As per the analysis, CME currently commands roughly 31% of the futures market with 116,000 BTC in open interest contracts—an increase of 7% within the past 24 hours. This notable growth in open interest is occurring concurrently with a decline in Binance’s market share. The dominant cryptocurrency exchange has seen its market share plummet to an all-time low since Dec. 2021, nearing 25%.
Curiously, a significant premium to Bitcoin futures CME price over the spot has been observed, signaling potential market anticipations of an upward trajectory.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
Latest Insights
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
CME Group
CME Group is a global markets company empowering participants to efficiently manage risk and capture opportunities in every major asset class..
Featured Data Partner
