Major bitcoin movements in the futures markets.

Hello,

This is my first post here on steemit although I have been watching the community quietly for some time. I am a proponent of the blockchain market and I like to keep up to date with the latest happenings for the cryptocurrency market and will be posting more insights as time goes on. I saw something today that could have massive implications to where the crytocurrency market goes in the next few months.

As I researched the news this am I came across some interesting correlations in the futures markets.

On April 25 the Highest volume in bitcoin futures was recorded at 5.7 Billion. This was surprising to me because there was a massive amount of shorting volume going on when bitcoin was crashing around the new year.

https://www.coinspeaker.com/2018/04/27/cboe-reached-highest-ever-volume-bitcoin-futures-april-25/

CBOE Options Institute senior instructor Kevin Davitt said on Thursday that “the average daily volume (ADV) runs about 6,600 in XBT Bitcoin Futures. Yesterday’s volume was nearly three times ADV.”

He explained: “Yesterday was the highest daily volume for bitcoin futures since their introduction here at CBOE nearly five months ago. The lead month May futures traded 18,210 contracts, and across the term structure a total of 19,000 bitcoin futures traded here yesterday. The previous high-volume session was January 17 with just less than 15,500 contracts traded.”

As I looked further into this news I came across something intriguing in the bitcoin shorts market.

https://www.tradingview.com/chart/?symbol=BITFINEX:BTCUSDSHORTS

On April 25th, as seen in this graph, there was little to no volume movement in the bitcoin shorts market so that could very possibly mean that the volume seen was going 2.7 billion long bitcoin in one day. Interesting times, Thanks for reading.

-JRL