Re:Bitcoin Sinks to $41,000 Amid ‘Extreme Fear’
by poontang1 on Friday January 07, 2022 @09:49AM
(#29839690)
Bitcoins price is primary moved by the cash settled futures market (CME) - like most other commodities. Its barely correlated to tether printing and anyone who actually follows crypto markets knows that.
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Re:Bitcoin Sinks to $41,000 Amid ‘Extreme Fear’
by kasey_junk on Friday January 07, 2022 @09:55AM
(#29839764)
I don’t follow crypto at all so this isn’t about Bitcoin futures but for most cash settled commodities on the CME the exchange traded futures aren’t the main driver of prices, real commodity impacts are.
The futures market are an input into the commodity prices but rarely the biggest.
Re:Bitcoin Sinks to $41,000 Amid ‘Extreme Fear’
by cmevidence on Friday January 07, 2022 @09:57AM
(#29839788)
cme volume is tiny, can you cite your claim? I have not heard anyone claim that before, given the majority of option volume is on cryptocurrency exchanges which are operating using usdt.
edit: here's the source I'm using to understand cme volume vs binance etc. https://www.theblockcrypto.com/data/crypto-markets/futures/v... which shows binance is the highest volume, which is usdt as seen here: https://www.binance.com/en/futures