Bitcoin whipsaws on CME open as Iran tensions pressure crypto markets
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Bitcoin surged from $80,700 to $82,400 before reversing, briefly topping $82,400 and then falling below $81,000 as CME futures opened.
- CoinDesk 100 fell 1.5% Monday, while the bitcoin‑heavy CoinDesk 5 dropped 0.6%.
- CME futures market‑wide crypto futures open interest stayed just above $130 billion for a fourth straight day, indicating stalled leverage inflows.
- Centralized exchanges liquidated over $400 million in leveraged futures bets, with short positions accounting for most of the losses.
- Deribit saw bitcoin call options at $81k‑$86k dominate volume, and block flows featured long call condors, signaling a low‑volatility, bullish strategy focus.
Why it matters: Traders with short positions lose $400 million, while bullish option buyers benefit from low‑volatility strategies; the market’s stagnant leverage and $130 billion open interest signal caution amid Iran‑driven risk.
