• Cryptocurrencies: 4025
  • Markets: 23120
  • Market Cap: $272534613586.12
  • 24h Vol: $67279366860.535

Why Bitcoin has seen the bottom

Weekend Read: Bitcoin has seen the temporary Bottom explained by the two Largest traders in Bitcoin

The Commitment of traders are released weekly by both CME and CBOE. They are the two only Stock Exchanges that offer Bitcoin derivatives temporarily. As a result of this, any movement in the way that Bitcoin is traded on both of these exchanges are reflected on the overall market as One Bitcoin Contract is equal to 5 Bitcoins or at the time of writing, $33,500.

There is currently only 50 traders that use both exchanges, meanwhile it is unknown how many institutions are using OTC or Over The Counter trades to take positions in Bitcoin. OTC Trades take a while to be reflected on the overall market as a whole.

Nonetheless, the chart below explain why Bitcoin has seen the temporary Bottom: