RE: BTC - Bakkt volumes see yet another all time high!
No matter how you slice it, increasing open interest means more money coming into a contract. Whether that is institutional or not is up for debate, but look who is allowed to trade the Bakkt contracts... are you able to? I know I am not... As far I understand those contracts are only open to institutions which means increasing open interest very likely means increasing institutional involvment. Whether they are buying and holding is another topic entirely, and wasn't exactly what I was saying. The point was that they are participating more, whether on the long or short side doesn't really matter, the fact that they are participating at all is what matters.
I'd have to read your post to really get an idea of what you were claiming from the data.
Ah, thanks for your thoughts, mate. According to my analysis, I proclaimed that increased open interest shows a greater involvement by institutions unto Bitcoin, however I did mention "accumulation", which may have been a mistake since the data didn't actually make clear whether they're going long or short.
So, I may make some more careful conclusions in future analysis, as I may have gotten a tad too excited from Bitcoin's strong rebound. Nevertheless, I did make some clarifications in the comments of said analysis.
In any case, thanks so much for the explanation :-)
On a side note, I have noticed that high open interest on strikes that are out of the money (or a ways away from the current market price) tend to pull prices towards those strikes, though not always. But sometimes...
Ah, another interesting point to note as well. Thank you.