“Our futures position proxy based on CME bitcoin futures, which tends to be used mostly by institutional investors, has spiked over the past week rising not only to the highest level for this year but also to levels last seen in August 2022 before the FTX collapse,” the analysts wrote, referring to the Chicago Mercantile Exchange.
Institutional Crypto Demand Has Fueled BTC Price Outperformance, JPMorgan Says
