Crypto Daily Digest - June. 30th | U.S. Investors Drives the Bitcoin Gains

TI Research

Bitcoin price gains has been concentrated during U.S. Market hours, outpacing Asian and European. Open interest on Chicago Mercantile Exchange (CME) nearing all-time high level as institutions seems find back their interest in crypto.

Bitcoin price gains and trading volume have concentrated during U.S. Market hours recently, and have been the main source behind BTC's strength, according to a report by K33 research.

Bitcoin has experienced some 30% cumulative gains during U.S. Market hours, significantly outpacing Asian and European trading sessions. Activity in the U.S. spiked after BlackRock filed for spot Bitcoin ETF on June 14.

The recent rush to apply Bitcoin spot ETF by major asset managers also stimulates institutional activity in the BTC market. K33 research shows the CME futures market has been nearing its all-time high, CME markets are favored by traditional investment firms to trade crypto futures.

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