ChainCatcher reported that according to The Block, Julio Moreno, head of research at CryptoQuant, said: "Trump's victory has brought back the demand for Bitcoin among American investors, and the Coinbase premium has turned positive for the first time since October 18." Coinbase is a favorite platform for American investors, and its premium indicates an increase in buying interest, especially among institutional investors who use Coinbase for large transactions.
In a sign of increasing demand from institutional investors, daily trading volume for CME Bitcoin futures hit a record high of $13.15 billion yesterday. According to Vetle Lunde, head of research at K33, average daily volume for CME Bitcoin futures in 2024 is currently $4.56 billion - even higher than the surge in volume during the FTX crash in early November 2022. The milestone signals a shift in Bitcoin trading activity, with institutional investors playing an increasing role.
In addition, data shows that in just one week in November, the average monthly open interest of CME Bitcoin futures reached an all-time high of $11.73 billion.
