CBOE bitcoin futures volume fluctuated

nRunaway Comment: CBOE bitcoin futures contracts have started trading on Sunday, how its performance has become one of the focuses of people’s attention. The data showed that the product was trading higher on the first day of trading but then plunged the next morning with a further upward trend but still far behind the trading volume on the first day. The reasons for this are many, but in any case, what is certain is that people are still greatly interested in this new product.n
nTranslation: Inan
The Chicago Board Options Exchange (CBOE) has started its official trading of bitcoins products on December 10, a message that has given the Bitcoin spot market a positive atmosphere. Meanwhile, the price of CBOE Futures products also frenzied from 15,000 US dollars rose to a record high of 18,650 US dollars.n
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In the past few days, the spot prices of CBOE’s XBT market and Bitcoin have fluctuated sharplyn


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The CBOE Bitcoin-based January contract (XBT: 1), which started trading last Sunday, is now over 8% above the spot price of Bitcoin. Bitcoin spot market conditions have been good, the global average price hovering between 16900-17200 US dollars. CBOE futures products are different, this contract to Gemini Trust Fund provided by the Bitcoin price data based on cash settlements. These exchange-traded derivatives are bets on the future price of Bitcoin, and investors bet on whether the future value is high or low. If the price of Bitcoin rises or falls, the holder of the contract will be paid based on the value of the price over a specific period of time.n
The futures market started by CBOE rose above 15% for the first time when it opened for the first time. At the beginning of the trading session, the company’s website traffic was too large, leaving many people inaccessible. However, the CBOE revealed that the actual futures market is not affected by the web site paralysis. In addition, according to a CBOE spokeswoman, the transaction has been stopped. Futures trading on the platform can be stopped if the price of bitcoin fluctuates dramatically.n

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At present, there are fewer economic service companies dealing with XBTn
CBOE futures can only be purchased from certified brokerage firms, not all financial management brokers offer bitcoin-based derivatives. However, there are not many service companies that currently offer this product. A Bitcoin futures retailer recommended by the CBOE website is Interactive Brokers LLC. The site shows the pricing of Bitcoin futures, including broker commissions, exchanges and clearing fees. If the registrant has never used the platform, you must wait 24 hours for the XBT product to be approved for trading CBOE. Economic services companies such as Ally Invest and Goldman Sachs also provide retail and institutional traders access to XBT derivatives.n

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The initial volume of XBT surge, but plunged as other global commodity markets grewn
Trading volume was high on the first day of trading and CBOE’s contract volume on December 10 was 3,956, but it dropped to 237 the next morning. December 12 volume has increased, with more than 500 contracts, and the day’s turnover is on the rise. Many speculators believe the SEC’s alert to the ICO market “shaken” CBOE futures investors on Monday. And, as markets in Europe and Wall Street rise, the global market is also generally on the rise. The Dow Jones index, the S u0026 P 500, the pan-Eurostat 600 and the oil futures have both risen sharply, so traders may temporarily shift to other markets.n

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Speculative frenzyn
Bitcoin supporters are also looking forward to the CM Futures Group’s immediate launch of bitcoin futures products, which will bring a broader audience for crypto currency derivatives. Michael Novogratz, a well-known hedge fund manager and former Fortress executive, believes the consolidation of the Bitcoin spot and futures markets will continue to attract retail investors and large investors. In a recent interview, Novogratz explained: “The markets where the deals are going are going to go up, not down, and we’re in a speculative frenzy, and I think we’re just getting started.”n

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