Movers and shakers!
By John Thorpe, Senior Broker
While in the current Bull market, the equity Indices stalled today in likely anticipation of tomorrows CPI. Another bull, Crypto, has a slightly different motivation and that is the warmth of president elect Trump’s endorsement of the crypto industry. Crypto has once again captured many an imagination, here are some data points you may be interested in about Bitcoin Futures ( and MICRO Bitcoin futures):
- During the election 4 years ago, Bitcoin was trading near $14K, Ether around $560 and the suite traded a total of close to 11K contracts ($761M)
- Nearly 2/3 of volume was traded before the US open, twice what we typically see, as traders were accessing our markets
- Compared to 4 years ago, there was shift in volume distribution from Prop to now HF trading as paper continues to enter the space
- By EOD on the 6th the suite traded a record $16B, over 20x more than last election
- Ranked #2 in total contracts traded (until yesterday)
- Total OI was a record $18.4B, with various other records primarily in the bitcoin products
- These figures underscore the robust liquidity, client demand and trust in our crypto market place
- NOW: Bitcoin trading at record of around $88K
- 20% increase from just a week ago heading into the elections (+500% since prior election)
- Ether trading around $3,300, +35% from last week, +490% vs. prior election
- Bitcoin & Ether futures continue to reach new OI records,
- Both hit OI records Friday
- Yesterday we topped the Friday total notional OI record by over 20%
- Micros are trading a combined ADV in November is nearly double that of Oct
- Volatility is below YTD averages, margins remain steady for both
- It’s the 1 year anniversary of CME becoming the leading exchange for Bitcoin Futures Notional Open Interest
Today’s News:
Updated: November 12, 2024 7:55 am
Redbook Weekly US Retail Sales Headline Recap
**Redbook Weekly US Retail Sales were +4.8% in the first week of November 2024 vs November 2023
**Redbook Weekly US Retail Sales were +4.8% in the week ending November 9th vs yr ago week
Watch Tomorrow’s Movers and Shakers:
CPI Consumer Price Index @ 7:30 am CDT.
CPI Consensus Outlook
More of the same is the call with a familiar 0.2 percent increase for total CPI on the month and a 0.3 percent rise for the core. Year on year, forecasts center on 2.6 percent for total CPI, up from 2.4 percent in September, and the consensus looks for a 3.3 percent increase for the core. Reports like this have been making investors restless about lack of progress toward the 2 percent target.
Earnings: After the close 233 Billion Market cap Cisco Systems reports. A total of 203 companies report
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