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[Tytanowy Janusz]

The number of bitcoins sold on the Bakkt platform on Tuesday was 15 995 bitcoins, which is also a record.

Meanwhile todays volume on binance futures is 133 110 BTC + 44 700BTC on binance spot. I might be missing something but i don't understand why we still take care about bakkt and CME volumes, price gaps etc. We had a hype in 2017-2018 about those two and both failed expectations (huge investors entering crypto market hype). Now its just a flea market compared to the volumes we see on exchanges such as binance, bitmex (I trust volumes reported by both).

[ReiMomo]

The number of bitcoins sold on the Bakkt platform on Tuesday was 15 995 bitcoins, which is also a record.

I guess this is the result of the non-stop growth of defi projects. There are too many investors who are now back because and have an interest in this defi projects that keep growing.

When it comes to binance volume record, I didn't surprise that they are the biggest trading volume had since they are the most largest crypto exchange.

I guess I see your thread something like this, but I didn't find. Something the highest trading volume record on this year of all crypto exchanges.

[pawanjain]

The number of bitcoins sold on the Bakkt platform on Tuesday was 15 995 bitcoins, which is also a record.

I guess this is the result of the non-stop growth of defi projects. There are too many investors who are now back because and have an interest in this defi projects that keep growing.

Who said we had a non stop growth in DeFi projects ?
We did see a correction recently in the DeFi projects and few DeFi tokens even decreased by more than half.
May be now people are reinvesting their money in DeFi projects or may be they are investing in other tokens.
The increase in volumes show that people are investing their money in cryptocurrencies.
This does looks like a good news and a signal for the next pump in bitcoins price.

[The Sceptical Chymist]

I might be missing something but i don't understand why we still take care about bakkt and CME volumes, price gaps etc. We had a hype in 2017-2018 about those two and both failed expectations (huge investors entering crypto market hype).

I don't know, but it does give an indication of how interested deep-pocket and institutional investors are in bitcoin, and that's some good data to know.

I still haven't figured this out or got a good answer to it:  Does any of the futures trading on Bakkt or the CME affect the price of bitcoin that gets reported (the spot price)?  I've always thought the answer is no, that the price is determined by what bitcoin is selling for on the major crypto exchanges (like Binance, Coinbase, etc.).

Not sure what's happening to cause all this interest in bitcoin on Bakkt, but I'm all for it if they're betting on higher prices with the options contracts and such.  Plus there's that story about MSTR buying up a huge amount of bitcoin for their cash reserves.  Seems like corporate America (and maybe other countries as well) are bullish on bitcoin for some reason.

[nelson4lov]

In my opinion, this is a great feat for Bakkt. Higher volumes usually means there are more people who are actively trading bitcoin (futures / spot). I have been keeping track of the number of open interests on bitcoin futures contracts with Analytic platforms like viewbase and skew and over the last couple of weeks, starting from July, the number has been growing steadily. While most people think that using open interest as a metric is lame, I think it gives an overview of current market since we have enough volumes  already.

This might not immediately reflect in the prices due to some setbacks like the COVID-19 pandemic etc. It's nice to know that more people, institutional investors, cooperate bodies and even companies are getting more interested in Bitcoin, blockchain and other cryptos.  It won't be long before mass adoption comes.

[slaman29]

Bakkt totally messed it up with their launch, crying wolf too many times (well not exactly but sort of) until people just got so tired of it when they actually did launch, it really didn't matter anymore. Kind of blame them a bit too for the hype that didn't work out. Anyway, all in the past, but still means whatever happens with them now doesn't matter to btc market.

[Tytanowy Janusz]

I don't know, but it does give an indication of how interested deep-pocket and institutional investors are in bitcoin, and that's some good data to know.

I started to think that it is just a myth that institutional investors cannot invest in bitcoin without CME, BAKKT. Its like - if something is not located/registered in US it does not exist for big players. Meanwhile, exchanges all around the world was listing ETPs. ETF based on crypto long before BAKKT. F.e. SIX Swiss Exchange - " based in Zurich, is Switzerland's principal stock exchange (the other being Berne eXchange)." is listing ETPs with crypto (even BNB). Institutional investors had an option to invest in crypto safely before BAKKT. They were just not interested (or not interested to do it officially) and volume on bakkt after launch proved that.

Long story short ... institutional investors may be 10 times more interested in bitcoin (than it is shown on BAKKT and CME volume) and purchasing via dozens of options to hide it not only BAKKT and CME that was there long before CME and BAKKT.

[GreatArkansas]

Anyone got idea there why we still don't see a huge upward price actions on Bitcoin?
Like if we will compare before when we reached all-time-high around $19, 000, I think Bakkt is still not operating before when we reached all-time-high. But now, we already experienced another new all-time-high volume on bitcoin futures but we don't still have new all-time-high on Bitcoin price.

[bitgolden]

It is nice to finally see Bakkt going the direction they wanted to start, it took them a whole year to reach to where they wanted to be on the first day, when they first started they were so bad that people actually sold their coins thinking bitcoin wasn't really loved by the people, it really had a horrific start and gladly they finally fixed it and now have a new ATH and after one year people are actually using them.

However we should also remember that they should have been at this place a year ago, not today, they need to improve a lot more, which will of course happen because this will not be last ATH and it will have more and more but at the same time if we just hype them up too much once again without any good proof what they will do, we will end up with overhyped disappointment once again.

[BIN-BIN]

Defi is the order of the day in the market as so many of them have been doing great so far, AHT is really gaining ground with it large trading volume. But still there are lots to be done if we must move forward in the future, bitcion has always taken the lead in terms of volume and market cap but let see if the new defi wave will change that nairative in the future.

[Tytanowy Janusz]

Anyone got idea there why we still don't see a huge upward price actions on Bitcoin?
Like if we will compare before when we reached all-time-high around $19, 000, I think Bakkt is still not operating before when we reached all-time-high. But now, we already experienced another new all-time-high volume on bitcoin futures but we don't still have new all-time-high on Bitcoin price.

Futures and margin trading is much more popular now compared to 2017, when we seen bitcoin ATH. And both (futures and margin) provides easy way to play in both directions (long/short). Now we need much more volume to grow because we need to buy from all dumpers and from all shorters.

[crwth]

It seems that Bakkt is gaining some traction, and investors are putting in the money to increase in value in the future. It's Bakkt as the one accepted by Samsung, right?

Anyways, if you check their twitter account, you would see that they are definitely increasing in activity. Last July they hit 11,706 BTC in volume. So it definitely means activity is increasing for them. Even in Binance, they reached $2.8 Billion in volume in futures contracts. This might be something worth participating on.

[justdimin]

If we could get this even higher that would get some media attention probably, that media attention is more important than people think it is, if Bakkt gets to a level where they are getting so much hype and daily volume breaks ATH after ATH into a huge level, they could be even on bloomberg as well and we all know what happens to places that go on Bloomberg, they get a lot of attention from institutional investors and that could result with even higher ATH.

All of this obviously helps with bitcoin price as well, we just need to make sure Bakkt is going in the right direction, it is doing that right now but we need to make sure it continues this path as well. Obviously they know what they have to do and they are bunch of super smart people so they do not need us but if we can help somehow, we should try to.

[CucakRowo]

I might be missing something but i don't understand why we still take care about bakkt and CME volumes, price gaps etc

CME has a big influence in the eyes of investors (especially stocks and forex). CME also known as main trading center gate before entering US and European markets. An entity cannot easily be listed in CME market. In order to be listed on CME, CME team will do their own due diligence.

On this basis, indirectly when btc is listed on CME, investors psychologically think that btc has its own distinctive features so that CME wants to list btc into their platform. And directly, btc trading activities in CME will affect btc movements. Even though exchanges like binance, bitmax, coinbase have a large trading volume, they are still inferior to CME's influence and reputation.

Key : influence and reputation.
Sorry for bad grammar. If you guys want to know what my comment means, you guys can read this article (please ignore the halving, take the essence) : https://cointelegraph.com/news/effect-of-cme-futures-options-on-btc-price-depends-on-halving

[Tytanowy Janusz]

Key : influence and reputation.

Weak volume = no liquidity = easy pump/dump (price manipulation) = impact on high volume markets (crypto exchanges) = cashing big positions.

The script for manipulations is written by itself

Written in 2018:

https://bitcointalk.org/index.php?topic=5091123.msg48962463#msg48962463

Crypto is new technology. Our tokens are a dozen times better than stocks, contracts etc. Why we are struggling with implementing new technology into old technology hoping that old technology influencers will let us in just because they are old guys with money. Tokens are new technology.

I made this topic to start conversation about showing middle finger to old technology with old guys on board. We need them only for volume. We don't need to hear all the time "we will let your new technology to be trade on our old technology platform by old technology assets but not today ... maybe tomorrow... maybe next year"

Forget about them. Build use cases for new technology and they will come to us.

[CucakRowo]

-snip-

Well.. you can hate them (Bakkt and CME). But, it is what it is. Many investors still put trust on CME. So, we can't avoid this situation and we can't call all those investors as stupid person right? .
Idk if in next future, this old behavior can change. But for now, nothing we can't do right?