Take the Worry out of your Crypto Trading
By Mark O’Brien
Bitcoin futures open interest on the Chicago Mercantile Exchange hit a fresh all-time high this week. Its nominal value reached $5.4 billion as the Jan. futures contract traded within 200 points of $48,000 on Tuesday. The previous all-time high of $4.5 billion was recorded in November 2021 when the front month contract traded to its all-time high above $68,000.
News in the cryptosphere hit a milestone today with the announcement that Bitcoin ETF’s began trading on U.S. exchanges, but should you?
Before you jump on the Bitcoin ETF bandwagon, remember that the world’s largest futures and options exchange – the CME Group – offers you a choice for managing cryptocurrency risk with Bitcoin and Micro Bitcoin futures and options. With efficient price discovery in transparent futures markets, prices based on the regulated CME CF Bitcoin Reference Rate (BRR) and easily traded on your supported trading platform.
A Cannon broker will be able to assist, provide feedback and answer any questions.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
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This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.