According to Arcane Research, published by the Norwegian cryptocurrency agency Kryptografen on September 24, the settlement dates for CME Group bitcoin futures, in particular, have a negative impact on BTC markets.
Analyzing BTC price trends between January 2018 and August 2019, the company found that in 75% of cases, just before the release of CME, Bitcoin fell.
Thus, the figures support a hypothesis that the bitcoin price is manipulated in advance of CME settlement. However, the figures do not say anything about ‘deliberate manipulation’ or, for example, only a result of investors’ strategy of hedging,” Kryptografen concluded.
Back in August, Arcane hit the headlines when individual results showed that Bitcoin’s market dominance was actually more than 90%, and not about 70%, which trackers reported.
CME was one of the first operators to launch bitcoin futures in December 2017. Since then, interest in them has reached its peak, and this year there are frequent historical highs in trading volumes.