Buyers showed up quickly to reverse the crypto market dip through Monday.
Despite choppy price action, news over the past few days has been extraordinarily bullish for the leading cryptocurrency.
The world's largest asset manager appears to be getting into the bitcoin game.
The CME has become the largest bitcoin futures exchange by open interest amid institutional onboarding.
Short open interest for leveraged funds grows on CME as likely hedge trades continue to increase.
Derivatives' role in bitcoin's rally is "muted" this time, said one trader.
A Friday note outlines institutional, corporate, and Millennial interest in the leading cryptocurrency.
Futures funding stayed flat or turned negative despite bitcoin's rally to $12,000.
Bitcoin's 180-day volatility dropped to its lowest level since November 2018
Institutional interest is driving Bakkt's bitcoin futures volumes up, but its options market has remained quiet.
Bitcoin closed July at $11,351, according to Messari.
Only $133 million in futures were liquidated on BitMEX as bitcoin soared above $11,400.
Bitcoin futures open interest across all exchanges passed $4 billion Tuesday morning.
The U.S. commodities regulator has a four-year plan for fostering responsible innovations in the crypto asset space.
WisdomTree is seeking to launch an exchange-traded fund that invests in part in the growing bitcoin futures market.