Bitcoin: Will institutional interest be BTC’s savior?

CME Open Interest in Bitcoin grew, implying a decline in volatility. Miner revenue fell while selling pressure increased. According to a 31 January tweet by Arcane Research, Bitcoin’s [BTC] rally was slowing down. Despite this, institutional interest in Bitcoin continued to grow. Ahead of the curve – Jan 31 Bitcoin's momentum has come to a […]

was the growing CME Open Interest in Bitcoin. According to Arcane Research, the proportion of Open Interest in Bitcoin that is not related to exchange-traded funds increased from 53% to 57%.

This surge, along with a strong presence of institutional investors in Bitcoin futures, is a positive sign. The CME played a key role in determining the price of Bitcoin and was a driving force behind significant shifts in the market in October 2020 and April 2021.Along with the growing institutional interest, the implied volatility for BTC decreased. In the past seven days, Bitcoin remained relatively stable, fluctuating around $23,000, causing implied volatility to decrease.

At press time, implied volatility was in the low 50s, even for longer time frames. This was similar to the levels seen in early November, as the options market predicted a slower pace in the market.

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