According to ChainCatcher news, Julio Moreno, the research director of CryptoQuant, stated that "Trump's victory has brought back the demand for Bitcoin from American investors, and the Coinbase premium has turned positive for the first time since October 18." Coinbase is a platform favored by American investors, and its premium indicates an increase in buying interest, especially from institutional investors who conduct large transactions on Coinbase.
As a signal of increased institutional investor demand, the daily trading volume of Bitcoin futures on the Chicago Mercantile Exchange (CME) reached a new all-time high of $13.15 billion yesterday. According to Vetle Lunde, the research director of K33, the current average daily trading volume of CME's Bitcoin futures for 2024 is $4.56 billion - even higher than the trading volume surge during the FTX collapse in early November 2022. This milestone indicates a shift in Bitcoin trading activity, with the role of institutional investors becoming increasingly significant.
Additionally, data shows that in just one week in November, the average month-end open interest in CME Bitcoin futures reached a new all-time high of $11.73 billion.
