Quick Take
Amid Bitcoin’s near 20% surge to the $35,000 mark within the past five days, the volume of Bitcoin futures contracts witnessed an astounding rise of 233% in just 24 hours, signaling a heightened level of trading activity.
This significant uptick in futures volumes, which allows traders to agree to buy or sell Bitcoin at a fixed price in the future, could be indicative of escalated speculative activity, hedging strategies, or a spike in institutional interest.
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