Jamie Crawley is a CoinDesk news reporter based in London.
BTC has gained nearly 4% in the last 24 hours, comfortably outperforming the wider digital asset market, which is around 1.4% higher, as measured by the CoinDesk 20 Index.The cryptocurrency teased a move above $68,000 during the U.S. morning on Tuesday before falling as low as $64,800 only an hour later.
In the past five trading days, CME has seen open interest ramp up by 25,125 BTC, marking one of the highest recorded changes in recent years. - A somewhat similar spike in open interest was seen in June 2023, when , bitcoin surged from approximately $25,000 to $30,000. Vetle Lunde, senior analyst at K33 Research, noted that active and direct market participants are driving this growth on the CME, and it's not coming from futures-based ETFs such as ProShares Bitcoin ETF .
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