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The bitcoin futures market sees an increase in investment in the first month of the year.
According to Arcane Research, after the total volume of futures to buy bitcoin went into the red, which happened immediately after the collapse of FTX, the market recovered and is currently only 21% below the all-time high. The last time such a big interest in buying bitcoins through futures in the US was observed only in October and December 2021, as evidenced by the data of the Chicago-based CME Group exchange. It was then that the price of bitcoin was also stable on the growth trajectory, which was associated, among other things, with the launch of an ETF for bitcoin futures in the United States.
Considering that CME Group is an exchange platform focused on institutional investors, it becomes clear that the January rise in the price of bitcoin was, among other things, a consequence of the growing interest in the No. 1 cryptocurrency on the part of such market participants.
At the same time, there is a decrease in the volume of bitcoin reserves on crypto exchanges: on sites outside the United States, the decrease was 18.6% over the month. Thus, the number of long-term investors in bitcoins is increasing.
As the price of bitcoin rises observed a record rise in the price of shares of mining companies, and this is also behind institutional investors who have access to trading on Nasdaq. At the beginning of the week, the Bitcoin mining difficulty indicator updated its all-time high, reaching the level of 37.59 trillion hashes. This happened after the maximum increase in the bitcoin hashrate since November 2022 was recorded on January 15 – immediately by 10%.
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