Bitcoin futures market shows positive momentum for recovery

The Bitcoin futures market has shown positive momentum of recovery. Data analysis website Skew markets shows that with the end of the first quarter of 2020, the Chicago Mercantile Exchange (CME) BTC futures trading volume reached its highest level in three weeks. The volume of BTC futures on April 2 was 347 million US dollars, which has been on an upward trend recently, and the value rose to 398 million US dollars on April 6. As of April 6, the value of open contracts increased to $ 185 million. In addition, a similar trend was observed on Bakkt. The trading volume of Bakkt physical settlement bitcoin futures and cash settlement bitcoin futures has been growing for 3 consecutive days. On April 3, the open interest increased to 6.5 million US dollars. These trends essentially indicate an increase in institutional demand and expectations of recent price increases.