CME Bitcoin Futures Drops by 300% in the Past Week as Institutional Open interest Drops

CME futures

The CME Bitcoin Futures market is worryingly losing appeal to institutional investors as the number of long contracts experienced a 300%+ plummet in open interest recording the lowest weekly drop four months. The number of open interest long contracts on CME is now at October lows despite the 200%+ increase last month.

According to data collected on Skew, a crypto data analytics firm, the open interest in long contracts by…

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