CME’s bitcoin futures, considered a proxy for institutional activity, dropped Monday with a sign of bearish sentiment after Ruled by President Donald Trump A trade deal with China.
The futures contract due to expiry last Friday of April began trading at $ 79,590, down 5.6% from near $ 84,250 and quickly dropped to $ 76,800, Coindesk data show.
Losses come as Dow Futures fell 900 points, Chinese stocks crashed, and the Equity Equity market increased The possibility of the US who has fallen backwards this year.
On Sunday, Trump told reporters at Air Force One that he wanted to solve the shortage of trade in China “and unless we solve that problem, I will not deal with it.”
Trump added that the leaders of the world were dying to make a deal. Last week, the President announced the sweeping of tariffs in 180 countries, strengthening the total debt in China up to 54%. Since then, financial markets have taken place, which the President thinks is the necessary medication to solve the problem.
“I don’t want to go down, but sometimes you have to take medicine to fix something,” Trump said.
Open Interest slides to CME
Open interest in CME Futures which sank in December at 281.57 BTC and since refusing 140.5K, the lowest since August 2024, according to the data source Coinglass.
This is a sign of money that leaves the digital assets space, perhaps expecting a deeper price swoon.
Meanwhile, global futures and eternal futures open interest, excluding CME, has increased from approximately 400k BTC to 520 BTC over the past four weeks.
An increase in open interest next to a price collapse claims to confirm the bearish trend, indicating that entrepreneurs are building short positions in a falling market.
