This week Bitcoin price corrected sharply after rejecting at $10,400 but CME BTC futures data shows institutions remain bullish.
CME Bitcoin (BTC) futures and options markets expired on May 29, and despite a $100 hiccup, the price of the largest digital asset on CoinMarketCap held up nicely around the $9,400 level.
As the market entered this last trading session, open interest for CME Bitcoin futures expiring in May was rather small at $30 million. This does not mean institutional traders abandoned Bitcoin markets, as open interest for upcoming months remains at a healthy $400 million level.
Another essential gauge of institutional investors' appetite, CME Bitcoin options markets, traded $120 million worth of $11,000 and $13,000 call options for the June and July expiries.