According to Blockworks, CME trading volumes surged after the election, hitting an all-time high notional volume of more than $16.4 billion on November 6.
K33 analysts pointed out that despite the aggressive market, the CME premium rose to more than 15%, and the market top does not usually coincide with the CME premium. CME open interest increased by $2.4 billion.
Analysts predict that the price of Bitcoin could reach $100,000 by the end of the year. Historical data shows that round numbers often trigger extreme volatility.
Galaxy's Alex Thorn noted that Bitcoin's price action on Monday was the 49th largest gain in history. K33 said that Bitcoin's momentum has stimulated the enthusiasm of perpetual contract traders, and funding rates continue to rise.
