CMES Bitcoin -Futures, considered a power of attorney for institutional activity, gaped lower Monday in a sign of Bearish mood after President Donald Trump excluded a trade agreement with China.
The Futures contract due to expired on the last Friday of April began trading in $ 79,590, dropped 5.6% from Friday’s end of $ 84,250 and quickly dropped to $ 76,800, Coindesk data shows.
The losses came when Dow Futures fell 900 points, Chinese shares crashed, and the Japanese stock market slipped into lower switches when JPMorgan, S&P Global and Goldman Sach’s increased the likelihood of the US falling in recession this year.
On Sunday, Trump told journalists about Air Force One that he would solve the trade deficit with China, and unless we solve this problem, I will not enter into an agreement. “
Trump added that world leaders are dying to make an appointment. Last week, the president announced sweeping tariffs for 180 nations and increased the total tax on China to 54%. Since then, the financial markets have wilted, which the president believes is the necessary medicine to solve the problem.
“I don’t want something to go down, but sometimes you have to take medication to fix something,” Trump said.
Open Interest Slides on CME
Open interest in CME futures peaked in December at. 281.57 BTC and has since fallen to 140.5K, the lowest since August 2024, according to Data Source Coinglass.
It is a sign of money leaving the digital asset space, perhaps in the amount of a deeper price.
Meanwhile, Global Futures and Perpetual Futures’s open interest, excluding CME, has increased from approx. 400K BTC to 520 BTC in the past four weeks.
An increase in open interest along with a price fall is said to confirm the bearish trend, indicating that dealers are building short positions in a falling market.
