Forex and Crypto News

The total volume of open orders reached $4 billion in Bitcoin futures markets

15:12 03 February /2020

According to the data of the analytical company Skew, since the beginning of 2020, the volume of open orders in Bitcoin futures markets has grown by 60%. The total volume of open positions on leading crypto derivatives exchanges is about $4 billion. More than half of this volume is concentrated on two exchanges - BitMEX and OKEx. The volume of open positions on each exceeds $1 billion.

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Bitmex CEO Arthur Hayes commented on this:

Over one billion open orders on XBTUSD. Time for fireworks.

He added that the trading volume of Bitcoin futures on BitMEX exceeded $2 trillion since the launch of the exchange in 2016.

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“Given that open orders on BitMEX have reached a billion, we should expect an increase in market volatility,” said Scott Melker, an analyst at Cointelegraph Markets. “We will not stay at $9,400. The next step should be significant and this will happen relatively soon."

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