Donald Trump’s impending presidency is fueling interest in the bitcoin derivatives market

2 月前 0 380

Open interest in the bitcoin futures segment has been steadily growing since November 5, when Donald Trump won the presidential election. According to the Coinglass service, since then, open interest has increased from $39 billion to $61 billion. In turn, Bitfinex experts note: this trend looks quite organic. This indicates that the derivatives market participants believe in the further growth of the main digital coin.

Bitget CEO Gracie Chen also spoke about this situation. She is convinced that it was Donald Trump’s victory that was the key catalyst for the steady increase in open interest in bitcoin. “Bidders have started to evaluate the market in terms of regulatory and technical improvements. Investors continue to believe that the new president’s administration will provide a friendly environment for the cryptocurrency industry,” Gracie Chen emphasized.

During today’s trading bitcoin recovered to $95,000, but in terms of growth momentum it lost ground to ether, which added 5%. Against this background, the main altcoin reached an extreme of $3600. Many experts note that the level of bitcoin’s dominance has recently fallen to 61.5%.

At the same time, the cryptocurrency pair EHT/BTC is firmly held at the level of 0.03760, which is almost 18% higher, compared to the indicators of the past week. According to analysts from QCP Capital, the pair may test the 0.04 level in the near future.

All this indicates the continued strength of the main altcoin against bitcoin. It is also worth noting that spot Ethereum-ETFs have been showing a stable capital inflow for the last 4 days. Over the past day, all funds have attracted more than $90 mln in total.

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