Share this article
CME Bitcoin Futures Daily Trading Volume Hits 2020 Low - That's a Bullish Sign
Daily trading volume in bitcoin (BTC) futures listed on the Chicago Mercantile Exchange (CME) dropped to year-to-date lows on Friday.
Updated Sep 13, 2021, 12:20 p.m. Published Feb 24, 2020, 5:32 p.m.
In this article
Daily trading volume in bitcoin futures listed on the Chicago Mercantile Exchange (CME) dropped to year-to-date lows on Friday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The volume hit $118 million, the lowest level since Dec. 31. On that day futures recorded volume of $112 million, according to Skew Markets.
What’s worth noting is volumes have pulled back sharply from the multi-month highs registered on Feb. 18. CME traded $1.1 billion in volume this past Tuesday. That was the first above-$1 billion daily volume since June 27, 2019.
Bitcoin CME futures contracts, which went live in December 2017, have recorded above-$1 billion daily volume only three times.
While daily volume collapsed in the last three trading days of the previous week, open interest remained near the seven-month high of $338 million, registered on Feb. 14.
Open interest refers to the number of futures contracts outstanding on an official exchange at any one time, while volumeis the number of contracts traded in a given period.
A drop in volume accompanied by an elevated open interest is usually considered a sign of investors holding on to their positions. In such cases, the market usually extends the preceding move; bitcoin’s price rose over 50 percent from lows below $7,000 to $10,500 in the six and a half weeks to Feb. 18.
A rally like that is said to have legs since the price gain was backed by an increase in open interest and trading volume. In the first six weeks of the year, daily volumes increased from $176 million to $1.1 billion and open interest rose from $127 million to $338 million.
Bakkt open interest slides
Activity in bitcoin futures listed on Intercontinental Exchange’s Bakkt platform has cooled recently, with open interest plunging from a record high of $19 million down to $10 million in just seven days to Feb. 20.
Meanwhile, daily trading volume (cash-settled plus physically-settled) declined to $18.6 million on Feb. 21, the lowest since Jan. 24. Bakkt futures witnessed a record trading volume of $50.1 million on Dec. 18.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Robinhood Stock Slides 8% After Big Decline in November Trading Volumes
Slumps across equity, options and crypto trading in November raised concerns that retail investor momentum may be fading.
What to know:
- Robinhood reported a sharp drop in trading volumes across equities, options and crypto in November.
- The company's total platform assets also fell 5% month-over-month to $325 billion.
- The slowdown in trading activity raised investor concerns that retail engagement may be fading heading into year-end.
Top Stories
