@PeterLBrandt | 685,794 followers
Does the @CMEGroup control the price of Bitcoin?

According to @CoinMarketCap the global daily trading volume is approx. 2.5 million $BTC

The daily trading volume at the CME is approx 45,000 BTC

To suggest that the CME controls the price of BTC is utter hogwash

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In reply to @PeterLBrandt
Worth noting BTCUSD futures volume dwarfs spot. While CME is a small part of the total futures, the futures market is the majority. Most of the hedge funds I've spoken to utilise liquidity on Binance FTX and others. Futures markets undoubtably leads the price more than spot. pic.twitter.com/NUyTjN6FBp
 
 
In reply to @PeterLBrandt
Binance controls it. Check the influx in volume for spur since the June lows. Most BTC ever traded in a 3 month window.
 
In reply to @PeterLBrandt
Not saying you're right or wrong on the conclusion, but how you reached that conclusion could be improved by looking at where the price moves first over time.
 
In reply to @PeterLBrandt
Peter as always touching the nerve 🦾 @tradingview says the @CMEGroup register a volume of 2,935 #BTC traded on that terrific 15min candle wich @binance also register 21,237 #Bitcoin, 10x more . The Daily volumen traded today on #binance is 384,000 #BTC.  So it is not #CME  ? pic.twitter.com/FLL5AJBQYi
 
 
In reply to @PeterLBrandt
Hogwash literally being worst of all wash varietals
 
In reply to @PeterLBrandt
Swiss franc parabolic 990000 trillion trillion
 
In reply to @PeterLBrandt
Agreed - there is hardly any liquidity in the futures. Very thin
 
 
In reply to @PeterLBrandt
No It doesn’t. Come on man.
 
In reply to @PeterLBrandt
🙋‍♂️Do they control the price in other markets?
 
In reply to @PeterLBrandt
Stop feeding your hand earned money to exchanges, kindly follow @Trader_VerdeR on how to trade without getting liquidated.(link in his bio )
 
In reply to @PeterLBrandt
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In reply to @PeterLBrandt
It’s the tail wagging the dog. eg ProShares Bitcoin ETF alone trades USD 234m a day (approx 30% of CME volume), but its shares are levered by orders of magnitude through all connected brokers. Purely FIAT collateralised. Read their website at proshares.com/resources/how-…. pic.twitter.com/DDFtL2DONv
 
In reply to @PeterLBrandt
More than likely its the federal reserve's trading desk if you know how to read their data
 
In reply to @PeterLBrandt
After the next halving demand will outpace supply and than some will find what is the the difference between infinite and capped quantity. Actually futures will fuel even more the next bull run. It will be real fast.
 
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