After announcing its plans to include bitcoin futures in its offerings in March, B3, a Brazilian stock exchange, officially opened its operations, achieving a significant milestone on its first day of operation. bitcoin-futures-cme-q3-breaks-all-time-highs/” rel=”nofollow”>trading bitcoin futures.
bitcoin B3 futures see surge in demand
bitcoin-futures-approved-for-trading-on-brazil/” rel=”nofollow”>Following the launch of bitcoin futures on April 17, B3 experienced a massive wave of demand and interest from cryptocurrency enthusiasts eager to trade the newly listed bitcoin futures. the stock market bitcoin-sao-negociados-na-b3.ghtml” rel=”nofollow”>reported That on the first day of trading, more than 7,400 bitcoin futures contracts were actively traded.
This unprecedented trading volume highlights bitcoin-futures-open-interest-cme-record-highs/” rel=”nofollow”>Strong investor interest in cryptocurrency derivatives. as well as the growing demand for btc exposure among Brazilian crypto traders and enthusiasts.
Notably, B3 revealed that demand for bitcoin futures on its exchange was so deep that it had reached 111,000 buy or sell orders on the trading screen. The market has shown intense participation in the new contracts launched. B3's Director of Listed Products, Marcos Skistymas, stated that the increase in demand was due to B3's introduction of its first derivative linked to a cryptocurrency.
The introduction of bitcoin futures marks an important step forward for the stock exchange, aligning with its vision of expanding its offerings to meet the needs of users. Skistymas has also indicated that market response to recently listed bitcoin futures was overwhelmingly positive, reflecting significant potential for these contracts within the crypto-regulation/” rel=”nofollow”>Brazilian market.
btc futures will act as a hedge against market volatility
According to Skistymas, bitcoin futures were a “suitable instrument” that could become a hedge against bitcoin, potentially providing Brazilian investors with a means to manage the avalanche of risks associated with bitcoin price fluctuations.
For clarity, a bitcoin future is a contract between investors who bet on the future price of the pioneering cryptocurrency, providing exposure to bitcoin without the need to purchase it. Given bitcoin-futures-overheating-volatile-storm-ahead/” rel=”nofollow”>The high volatility of btc. and price fluctuations during certain market conditions, accurately predict cryptocurrency price can be a challenge. Furthermore, only a handful of crypto analysts and investors have managed to accurately forecast bitcoin price actions.
At the beginning of the year, the price of btc rose from less than $50,000 to a bitcoin-price-surges-to-new-all-time-high-is-100000-in-sight/” rel=”nofollow”>its highest point of over $75,000 in March 2024. At the time of writing, the cryptocurrency is trading at $66,129 after witnessing a bitcoin-price-suffers-sharp-decline/” rel=”nofollow”>major price correction and plummeting 0.09% over the past month, according to CoinMarketCap.
Irrespective of The unpredictability of btc and price movements, the launch of bitcoin futures on B3 has the potential to generate a crypto-economy-the-data-agrees-vehemently/” rel=”nofollow”>new era of adoption among Brazilian investorsproviding them with new opportunities to diversify their portfolios with these regulated financial instruments.
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btc price falls below $66,000 | Source: BTCUSD on Tradingview.com
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