YouTube has begun a global effort to combat ad blockers and encourage users to allow ads or subscribe to YouTube Premium.
According to GSMArena, in June, YouTube announced that they were conducting a small global test urging a small group of ad-blocking users to disable them if they wish to view content on the platform. Now, this experiment has become official as the formal implementation process is underway.
Message content displayed when users use an ad blocker with YouTube
When encountering an ad blocker, YouTube will display a notification similar to the screenshot in the article, indicating that video playback will be blocked unless YouTube is added to the whitelist or the ad blocker is turned off. Additionally, users also have the option to try out the Premium package.
YouTube’s Chief Communications Officer, Christopher Lawton, stated that using ad blockers would violate the platform’s terms of service. According to Lawton, advertising supports a diverse ecosystem of content creators worldwide and allows billions of people to access their favorite content on YouTube.
On the morning of October 31, the Ho Chi Minh City Department of Tourism held a press conference to announce the 3rd Ho Chi Minh City Tourism Week with the theme “Green on Every Journey.”
The Ho Chi Minh City Tourism Week 2023 will take place from December 4 to December 10, 2023, featuring a series of outstanding tourism, sports, and music events designed to provide high-quality experiences for the local community, domestic tourists, and international visitors.
Ms. Nguyen Thi Anh Hoa, Director of the Department of Tourism, stated that this year’s Ho Chi Minh City Tourism Week is a culmination of the two previous tourism weeks.
Ms. Nguyen Thi Anh Hoa, Director of Ho Chi Minh City Department of Tourism spoke at the event
For the first time, Ho Chi Minh City initiated a program where each district, district-level town, and Thu Duc City introduced a distinctive tourism product to encourage local tourism. To date, Ho Chi Minh City has introduced 60 tourism products, with 30 of them being presented by districts and district-level towns. These units have introduced 2-3 products each and actively formed partnerships with other units to create product chains.
Last year, the Ho Chi Minh City Tourism Week left a lasting impression with a series of demand-stimulating events. Therefore, in this 3rd edition, the Department of Tourism will continue to promote and attract visitors to the tours that have been developed. They will also collaborate with other departments and sectors to create a festive atmosphere and a diverse range of cultural activities, stimulating demand for tourism.
According to the Director of the Department of Tourism, the global trend is towards sustainable tourism development. The theme of this year’s Ho Chi Minh City Tourism Week is “Green on Every Journey.” Flights to Ho Chi Minh City during this week will carry the message of promoting the city. Profits from district and district-level town tours will be allocated to contribute to the recycling fund, supporting the sustainable development of tourism.
Representative of the jury of the Ho Chi Minh City Tourism Check-in Model and Funny Symbol Design contest answers questions in the program
In response to the theme of the week, travel companies are developing new tours and offering incentives for eco-friendly travel. Accommodation providers are encouraged to use environmentally-friendly materials in their hotels.
The Tourism Week will be officially launched on the morning of December 4 in front of the City Post Office. The week will also include events such as the Techcombank International Marathon Ho Chi Minh City, an experiential program for exploring the city through doodle art, and the announcement of new tourism products from districts, district-level towns, and tours to stimulate tourism in Ho Chi Minh City.
During this time, the Department of Tourism is also launching a competition for the design of travel check-in models and fun symbols of tourism in Ho Chi Minh City from November 2 to November 26, 2023. The competition aims to search for and select unique design ideas for check-in models and tourism symbols that convey the local culture, history, and people’s identity. The competition is intended to create new tourism products with a unique identity, contributing to the appeal of the Ho Chi Minh City tourism brand.
The service for removing ads on Facebook and Instagram is being rolled out in the EU and will have a price of approximately 9.99 euros per month when used on the web, or 12.99 euros per month on iOS and Android.
According to The Verge, Meta Corporation (the owner of the social networks Facebook and Instagram) is introducing a paid subscription package to remove ads on these two social media platforms. The service costs about 9.99 euros (260,000 Vietnamese dong) per month for users on the web, or 12.99 euros (338,000 Vietnamese dong) per month on iOS and Android operating systems.
Meta’s move to start charging is aimed at addressing concerns raised by the European Union (EU) regarding data collection activities and Meta’s advertising targeting. By making users choose between paying to eliminate ads or using the free service but agreeing to data collection activities, Meta believes this will clearly meet the privacy requirements set forth by the EU.
“We respect the spirit and purpose of European regulations and are committed to complying with them,” Meta emphasized in their message to users.
Source: Internet
Meta also mentioned that they will continue to provide free access to users who do not wish to pay. Users who do not pay will still have the same user experience as before, and existing ad preference tools will still be available.
The ad-free subscription is only available to users aged 18 and above in the EU, the European Economic Area (EEA), and Switzerland.
Starting from March 1, 2024, there will be an additional fee of 6 euros when using it on the web or 8 euros on iOS and Android for each Facebook and Instagram account that is linked. Meta stated that if users subscribe to this package, their data will not be used for advertising purposes.
The program that enables tourists to visit the national historic and artistic sites of the Ho Chi Minh City People’s Council – People’s Committee headquarters is growing in popularity. Many visitors from the Northern provinces are interested in the program.
Previously, the People’s Council – People’s Committee of Ho Chi Minh City welcomed guests on October 28 and 29. Visitors can tour the headquarters and view the “The Beauty of Kindness – The Love of People of Ho Chi Minh City” photo exhibition. The exhibition displays over 20 photos showcasing the city’s kind, compassionate, and grateful residents. The photos depict a wide range of activities, such as volunteering for blood donation and helping the poor and those affected by natural disasters.
Special tours of Ho Chi Minh City are attracting more and more tourists
In future visits, residents and tourists have the opportunity to learn more about the city’s cultural characteristics, lifestyle, and people through thematic exhibitions. November’s theme is “Ho Chi Minh City, a River City Rich in Cultural Identity” (November 25 and 26) and the December theme is “Children’s Colors” (December 30 and 31). The program is expected to continue being a highlight of the tourism stimulus package at the end of 2023.
Visitors must register in advance and arrive at the tour location 15 minutes before the registered time to complete security procedures. Visitors must also bring their ID card or passport for verification.
Tourists are not allowed to bring luggage, handbags, backpacks, cameras, weapons, poisons, banned substances, flammable or explosive substances into the tour area. Smoking is prohibited, and visitors must not write or draw on monument walls. Recording, filming, or live streaming is not permitted in areas where visitors are not allowed. Visitors must not engage in activities other than sightseeing and must dress appropriately (no shorts or sleeveless shirts) and wear shoes or sandals with straps.
“You have people talking about bitcoins, about equity, being the safe asset,” El-Erian told CNBC.
Bitcoin (BTC) is emerging as a safe haven asset, with the U.S. Treasury bonds falling out of favor in the wake of the Israel-Hamas conflict, according to Mohamed El-Erian, chief economic advisor at German financial services firm Allianz.
“You have people talking about bitcoins, about equity, being the ‘safe asset’ because they’ve lost confidence in government bonds being the safe asset because of the nature of the interest rate risk,” El-Erian told CNBC on Tuesday.
A safe haven asset is expected to retain or increase in value during periods of economic and political uncertainty. For decades, investors have treated government bonds, particularly those issued by the U.S. Treasury, as safe havens.
Recently, however, the Treasury bonds have failed to live up to their reputation.
At 4.9%, the yield on the U.S. 10-year Treasury note is at least ten basis points higher than where it was a day before Hamas attacked Israel on Oct. 7. In other words, the price of the 10-year note has declined, a sign of investors seeking safety in other assets. Bitcoin has risen 23% to $34,460 since Oct. 7.
“We haven’t seen the flight to quality of flight to safety that you would expect given what’s happening in the world,” El-Erian said, noting the uptick in the 10-year yield since the outbreak of tensions in the Middle East.
The Treasury bond market has seen higher volatility this year, with yields charting sharp two-way moves in recent weeks due to uncertain government bond auctions, concerns about the economy, federal debt and the Fed’s policy path. The central bank has raised the benchmark borrowing cost by 525 basis points since March 2022 and intends to hold it higher for longer.
BitGo had already been storing crypto assets under the regulator’s supervision since 2019 as part of a transitional regime, the firm said.
U.S.-regulated cryptocurrency custody firm BitGo has been granted a crypto custody license by the German Federal Financial Supervisory Authority (BaFin).
BitGo, which received approval from the New York Department of Financial Services (NYDFS) for a New York trust charter in 2021, has been storing crypto assets for its customers since 2019, also under BaFin supervision, as part of a transitional regime, according to a press release.
Germany has become one of the leading countries in Europe when it comes to crypto safekeeping, passing laws that encourage banks and custody specialists to handle digital assets and offer related services.
“BaFin is recognized as one of the world’s key trendsetters in crypto regulation. It enables the progress that digital currencies entail while creating a secure regulatory framework,” said Dejan Maljevic, the managing director of BitGo Europe, in a statement. “We have worked hard to obtain this license. Now we are pleased to have reached this milestone.”
On October 31st at noon, Mr. Nguyen Quang Vinh, a 43-year-old resident of Hoa Khanh Dong commune in Duc Hoa district, Long An, reported an incident involving two foreign customers who came to his beer dealership to exchange US dollars for Vietnamese currency.
One of the customers walked up to the counter with a $100 bill and requested to exchange it for Vietnamese currency. The female accountant in charge of the transaction immediately pulled out several stacks of money to facilitate the exchange. While the customer was counting the money and speaking in a foreign language, he quickly snatched one of the stacks and ran away. The other customer quickly followed suit, and they both drove off in their 7-seat car.
After the incident, Mr. Vinh and his staff found a wallet containing a 100 USD bill, many 1 USD bills, and foreign currency of different denominations that the customer had dropped while running away.
The amount of money lost in the incident was approximately 3 million VND, and the two notes exchanged were not promptly retrieved. However, the foreign customer dropped an amount of money worth twice as much as the loss, so there was no loss of capital for the store.
Mr. Vinh and his staff reported the incident to the police to raise awareness and caution people about dealing with foreign customers.
On October 31, 2023, Hoi An was confirmed as the next representative of Vietnam to officially join UNESCO’s Global Creative Cities Network in the field of Crafts and Folk Arts. This is a great honor for Hoi An, Quang Nam, and Vietnam.
The UNESCO Creative Cities Network was established in 2004 to promote sustainable development by strengthening cooperation between recognized creative cities. Hoi An is now a member of this network, which has 295 member cities from 90 countries and territories, including 59 cities in the field of crafts and folk arts.
Bài Chòi Art is recognized as an Intangible Cultural Heritage of Humanity.
Hoi An is known for its folk crafts and arts, which it has preserved and promoted effectively. The city has five traditional craft villages with nearly 50 active craft industries, such as carpentry, pottery, lantern making, bamboo and coconut making, garments, and leather making. Some of these craft villages have been recognized as National Intangible Heritage. Bài Chòi Art has also been recognized as a representative intangible cultural heritage of humanity.
Hoi An has a large number of residents who participate in folk arts and crafts activities. This includes freelance workers, craft production and business groups, groups of artists, artisans, and individuals belonging to professional associations, running creative craft workshops, and businesses and entrepreneurs in the field of crafts and folk arts.
Joining the UNESCO Creative Cities Network is a favorable condition for Hoi An to promote its brand, attract investment, focus on educational development programs and cultural and creative events, and expand relationships. Hoi An can also access and absorb experiences and good values from international experts, UNESCO, and other cities and countries to apply them flexibly to Hoi An’s unique development model.
Folk crafts and arts are the outstanding strengths and pride of Hoi An in particular or, more broadly, Vietnam in general.
For Hoi An, becoming a UNESCO Creative City is a goal to strive for and bring values and benefits to the community. Hoi An will continue conservation activities and promote the field of folk crafts and arts. Hoi An will implement committed initiatives such as the Kim Bong Carpentry Project, nurturing young creative talents, Hoi An Creativity in the Digital Space, and international initiatives such as the International Folk Art Festival, International Lantern Festival, and Hoi An Creative House. The city will also create conditions and promote development and creativity in other fields, connect, exchange, and share experiences with other members inside and outside the Network, and strengthen activities to expand the network.
On November 1, 2023, Hoi An will organize a parade to welcome its entry into the UNESCO Creative Cities Network. Artisans, artists, representatives of agencies, departments, unions, businesses, organizations, and people in the city will participate in the parade.
Market breadth is a technical analysis technique that gauges the number of tokens participating in bitcoin’s rally.
Bitcoin (BTC), the leading cryptocurrency by market value, has gained nearly 27% this month, registering its most significant single-month percentage rise since January.
A swath of alternative cryptocurrencies is following BTC’s lead, according to data provider ByteTree’s market breadth indicator, which measures the number of digital assets advancing relative to the number of coins declining.
The indicator powered by CryptoCompare tracks real-time data of more than 5,300 digital currencies and categorizes tokens by their trends on a scale of 1 to 5. A score of 5 means the coin is in a strong uptrend, while zero represents a strong downtrend.
At press time, just 4.7% of tokens are in a strong downtrend, the lowest since January. It shows market breadth is expanding, with more coins participating in the bitcoin rally.
Expanding market depth reflects increased investor risk appetite and suggests the bullish momentum is healthier and more sustainable.
“Crypto breadth is improving, so much so that there are few downtrends left. Uptrends (blue) are on the rise, and you never know, but this could be the one. Halving is just six months away, and the Fed will have to start printing money again soon,” Charlie Morris, founder and chairman of ByteTree, said in a research note sent on Monday.
In the above chart, dark blue and light blue areas show coins in solid uptrends and early stages of the bull run. The yellow portion represents coins in consolidation, and the red zone shows coins in a strong downtrend.
The number of coins in uptrends is rising, as evidenced by the uptick in the dark blue and light blue areas. The situation starkly contrasts a year ago, when advancing stocks were a rarity.
Bitcoin changed hands at $34,400 at press time. The total crypto market capitalization took at $1.32 trillion.
According to data from the National Tourism Agency and the General Statistics Office, in October 2023, Vietnam welcomed over 1.1 million international tourists, marking the fourth consecutive month of hosting more than one million international visitors.
In the first 10 months of the year, the total number of international tourists reached nearly 10 million, a 4.2-fold increase compared to the same period last year and a 69% increase compared to 2019. These results far exceed the annual target set at the beginning of the year, which was to welcome 8 million international tourists this year.
At the beginning of October, the Ministry of Culture, Sports, and Tourism (MCST) announced its intention to report to the government to raise the target for international tourist arrivals in 2023 from 8 million to 12.5-13 million.
Out of the nearly 10 million international tourists who have visited Vietnam so far this year, over 8.7 million arrived by air, accounting for 87.5% of the total international arrivals and representing a 4.2-fold increase compared to the same period last year. Approximately 1.2 million arrived by road, constituting 11.8% of the total and a 4.5-fold increase, while about 69.5 thousand arrived by sea, making up 0.7% and increasing by 93.2 times.
International tourists visit Tra Su cajuput forest (An Giang)
The report indicates that South Korea continues to be the largest source market for tourists in the first 10 months of 2023, with 2.9 million arrivals, followed by China with 1.3 million, in the second position. Together, these two markets account for 42% of the total international arrivals in Vietnam.
Next on the list is the United States (third place) with 667 thousand arrivals, Taiwan (China) (fourth) with 606 thousand, and Japan (fifth) with 469 thousand.
In Europe, the three largest source markets for tourists to Vietnam are the United Kingdom (206 thousand arrivals), France (169 thousand arrivals), and Germany (159 thousand arrivals). The Russian market accounted for 98 thousand arrivals.
In October, the number of tourists from Thailand to Vietnam reached nearly 41,000, a 128% increase compared to September. In the first 10 months of the year, the number of Thai tourists in Vietnam reached 392,000, an almost 3.5-fold increase compared to the same period last year and nearly on par with the pre-Covid-19 levels.
In October, the Vietnamese tourism industry received over 5.2 million domestic tourists, of which 3.7 million stayed overnight. The total number of domestic tourists in the first 10 months of the year reached almost 100 million.
The total revenue from tourism in the first 10 months of 2023 is estimated to reach 582.6 trillion Vietnamese dong.
After inspecting the inside of the Dragon head (Son Tra District side), the Da Nang Bridge and Road Enterprise revealed the structure of the fire and water spray system placed neatly in the Dragon’s mouth. According to Engineer Tan Thinh, maintenance staff come every Friday afternoon to check the system’s components.
The ladder is hooked into the Dragon’s lower jaw
To access the Dragon’s head, staff lower a steel ladder about 10 meters long with one end fixed at the entrance, on the lower jaw of the Dragon’s head. One person works as a warning on the ground, while three other technical staff take turns climbing into the Dragon’s head to check the installed equipment.
The water sprinkler system is placed on the fire sprinkler head at the Dragon’s mouth
The water sprinkler is placed above the fire sprinkler head, facing straight in front of the Dragon’s mouth. Checking the fire sprinkler system takes longer because it is a more complex device with slide rails, air valves, oil pumps, and ignition. The staff opens the cabinet to check the electrical wiring system, then the air compressor system, water pump, generator, water tank, and fire protection system.
Although it operates completely automatically, because it is a complex system and to ensure the fire spraying process is successful, engineers are always on duty during the water and fire spraying process.
Depending on whether abnormal signs are detected that require maintenance or repair, the inspection process can take from 30 minutes to several hours. Once the inspection is complete, the staff takes turns following the hooked ladder out of the Dragon’s head and gives it a test run.
Engineers carefully inspect electrical cabinets
Electrical systems, generators, compressed air systems, and DO oil tanks are checked every Friday afternoon.
To ensure a perfect water and fire spray performance on Friday, Saturday, and Sunday nights, Mr. Thinh’s team leaves the scene after ensuring the system operates smoothly. Each performance night includes three rounds of fire spraying, with nine sprays in each round. Next is the water spraying performance with three rounds, four sprays each. Each performance night requires 45 liters of DO oil and 5m3 of water.
In the history of operating the Dragon Bridge water and fire sprinkler system, there have been several incidents of fire spraying
According to Mr. Thinh, the water gushing out from the Dragon’s head is tap water for daily use, so it is guaranteed to be clean and does not affect the skin if people and tourists come into contact with it. Engineer Nguyen Toan added that all spraying equipment is neatly placed inside the Dragon’s head and operates automatically. Although incidents rarely occur, there are several times when the system operates erratically, forcing engineers to be on duty to avoid interruption.
The nozzle inside the Dragon’s mouth is pushed out about 50cm on an outward sliding rail to prepare to spray fireAfter checking the equipment and nozzles, the engineers immediately sprayed fire 3 times to ensure the system worked well on the weekend.
For example, one time when the Dragon’s head was breathing fire, there was a problem that caused engineers to have to ignite it manually. Or there was a time when the oil pipe burst due to high pressure, so it only sprayed water but couldn’t spray fire. The team had to use loudspeakers to notify people.
Mui Ne, Binh Thuan province, has just been recommended by Booking.com as one of the top 6 budget-friendly travel destinations in the world for the autumn season.
Mui Ne owns a chain of beach resorts united into a long coastal strip. Photo: Booking.com
As the peak summer vacation period comes to an end, 44% of Vietnamese travelers express their intention to opt for off-peak autumn trips to save on costs. Based on data from Booking.com regarding affordable autumn travel destinations worldwide, the six suggested locations include Cartagena de Indias, Colombia; Mui Ne, Vietnam; Valencia, Spain; Vienna, Austria; Pigeon Forge, Tennessee, USA; and Blackpool, England.
International tourists kitesurfing in Mui Ne. Photo: The Anh
Booking.com believes that Mui Ne boasts a string of budget-friendly beach resorts, forming an extensive coastal stretch. It is a popular destination for backpackers and those seeking a luxurious vacation on a budget.
Mui Ne is also a suitable place for kiteboarding, thanks to its strong winds, tropical climate, and abundant sunshine. Additionally, visitors to Mui Ne can indulge in various water sports activities such as kayaking, jet skiing, and surfing.
This list is based on the feedback of travelers who booked accommodations in over 28 million lodging facilities in 155 countries and territories registered on the platform. The criteria include hotel room prices, airfare, transportation at the destination, cuisine, as well as the presence of lively activities and appealing experiences for travelers.
AI chatbots like ChatGPT, Bing Chat, and Google Bard have seen numerous improvements in recent times. Google Bard, in particular, is the latest product to receive a feature update that allows it to respond in real-time.
Previously, Google’s large language model didn’t provide immediate responses, and there was a delay between questions and answers. Bard always took the time to compose complete responses before displaying them on the screen.
Google Bard can answer queries in real-time
This is in contrast to ChatGPT and Bing Chat, both of which generate text in real-time while the response is still being processed until completion. Currently, the Google Bard update also includes a feature similar to ChatGPT, which processes in real-time, as reported by 9to5Google.
With Bard’s new functionality, users can choose to stop a response before it finishes if they wish. When users ask a question incorrectly or feel that Bard is not addressing the main point, they can click on the “Skip response” icon to halt the response.
What’s interesting is that Bard now follows the approach that ChatGPT and Bing Chat (which is powered by ChatGPT) have taken, even though ultimately these AI tools will be evaluated based on the quality of their responses more than how they respond, according to Techradar.
As before, after Google Bard provides a response, users can view alternative responses through the “View another draft” link at the top right. Users can also click on the slider at the bottom to adjust the response.
The number of transactions of over $100,000 on the Bitcoin blockchain rose to a new year-to-date high last week.
Bitcoin’s (BTC) onchain activity suggests whales, or investors with ample capital supply and the ability to influence market trends, have been active during the cryptocurrency’s recent move above $35,000.
The number of transactions processed on the Bitcoin blockchain involving a movement of at least $100,000 worth of BTC rose to a year-to-date high of 23,400 last week, according to data tracked by blockchain analytics firm IntoTheBlock.
The cryptocurrency’s price topped the $35,000 mark last week, reaching the highest since early May 2022, according to CoinDesk data. The cryptocurrency has since traded sideways, around $34,000, boasting a 107% year-to-date gain. Prices have surged 27% this month, supposedly on the back of spot ETF optimism and increased haven demand.
“The bitcoin spot ETF applications appear to have increased whales’ and institutions’ appetite for bitcoin,” IntoTheBlock said in a newsletter on Friday. “Transactions of over $100k had previously spiked in late June after Blackrock’s ETF filing and have now surpassed that level as Bitcoin sets new yearly highs.”
“The recent rise in institutional activity might be a harbinger for what comes in 2024,” IntoTheBlock added.
The U.S. Securities and Exchange Commission (SEC) is widely expected to approve several spot-based exchange-traded funds (ETFs) early next year. Analysts expect the impending financialization of BTC through ETFs to boost the cryptocurrency’s market value to $42,000 and higher.
Blockchain data show retail investors have also become more active in recent weeks.
According to data tracked by Deutsche Digital Assets, small entities’ onchain activity index, a metric to gauge retail investor activity, tapped a new-year-to-date high of 1.5 last week.
“We saw an increasing activity both in small and large BTC wallet entities that implies that especially smaller investors are increasingly flocking into the market,” André Dragosch, head of research at Deutsche Digital Assets, said in a note to clients. This can be seen in the significant increase in the median value of transfer volumes on the Bitcoin blockchain, which is indicative of small investor participation.
“Note that (new) small investor participation is a necessary condition for a sustained bull market in crypto assets,” Dragosch added.
With a notional open interest (OI) of $3.54 billion, CME is now the second-largest bitcoin futures exchange.
The regulated Chicago Mercantile Exchange (CME) is climbing ranks on the list of largest bitcoin (BTC) futures and perpetual futures exchanges by open interest in a move reminiscent of the early stages of the 2020-21 bull run.
With a notional open interest (OI) of $3.54 billion, CME is now the second-largest bitcoin futures exchange, up from the fourth position seen weeks ago, according to Coinglass. Notional open interest refers to the U.S. dollar value locked in the number of active or open contracts.
Keeping the top spot is the offshore unregulated exchange Binance, with an open interest of $3.83 billion. That’s 8% higher than the CME.
Open interest in CME’s cash-settled futures contracts recently surpassed the 100,000 BTC mark for the first time on record. Similarly, the CME’s share in the BTC futures market rose to a new lifetime high of 25%.
CME’s standard bitcoin futures contract is equivalent to 5 BTC, while the micro contract is sized at one-tenth of 1 BTC. The standard ether futures have a contract size of 50 ETH, while micro futures are equivalent to one-tenth of 1 ETH. Most open interest in offshore exchanges is concentrated in perpetual futures rather than traditional futures contracts. Perpetuals are futures with no expiry and use the funding rate mechanism to keep perpetuals in sync with the spot price.
Per some observers, CME’s ascent is a sign of an institutional-led rally. Bitcoin has risen 27% this month amid lingering macroeconomic uncertainty and spot ETF optimism.
Retail investors, too, seem to have played their part, as evidenced by the uptick in the futures-based ETFs. The rolling five-day volume in ProShares’ industry-leading bitcoin futures ETF jumped by a staggering 420% to $340 million last week, according to data provided by Matrixport. The ProShares ETF invests in the CME bitcoin futures.
André Dragosch, head of research at Deutsche Digital Assets, suggests otherwise. Per Dragosch, CME’s rise results from the unwinding of bearish bets on offshore exchanges.
“CME’s share in $BTC futures OI might have increased relative to other exchanges, but the aggregate amount of BTC futures & perps OI has not increased in BTC terms, implying that long futures positions were not the main driver behind the recent surge,” Dragosch said on X.
“Price spike was rather induced by short squeeze w/ a reduction in aggregate open interest,” Dragosch added.
