Bitcoin News Today: CME's Crypto Push Gathers Momentum as Regulators Gear for Overhaul

Bitcoin options traders remain unfazed by recent price volatility, with calls outpacing puts across major markets as derivatives data signals a potential floor for the cryptocurrency. Despite a sharp correction that saw Bitcoin dip below $100,000, open interest in derivatives contracts has dropped by 11.32% over the past week, suggesting a reduction in speculative risk that historically precedes recovery phases. On-chain analytics firm CryptoQuant highlighted this deleveraging event as a "strong buying opportunity," noting that the pullback has consolidated market sentiment around a more stable base for long-term investors.

The CME Group, a key player in crypto derivatives, is poised to expand its influence further. Federal regulators are expected to approve leveraged spot crypto trading on U.S. exchanges as early as December 2025, a move that would bring institutional-grade products to American investors. Acting CFTC Chair Caroline Pham confirmed the initiative, emphasizing the agency's use of existing rulebooks to implement reforms ahead of broader legislative action. This development aligns with CME's recent foray into natural gas markets, where CME's Global Head of Commodities Derek Sammann cited U.S. LNG export growth and infrastructure bottlenecks as catalysts for increased derivatives trading.

Meanwhile, CME's partnerships are diversifying. Flutter Entertainment, owner of FanDuel, announced plans to launch a sports prediction-market platform in collaboration with CME, leveraging the exchange's expertise in futures and options. Separately, CME's role in covered-call ETF strategies is gaining traction. GPIQ, an exchange-traded fund employing a dynamic overwrite strategy, has outperformed peers by balancing appreciation with consistent income generation, even as the Fed's rate-cut cycle continues. Analysts attribute GPIQ's success to its uncapped structure, which allows underlying assets to grow while generating double-digit yields.

Regulatory shifts are also reshaping the landscape. A bipartisan Senate bill proposes granting the CFTC sweeping authority over spot digital commodities, a move that could unify oversight but leaves gaps in stablecoin and decentralized finance regulation. The draft legislation, backed by Agriculture Committee Chair John Boozman and Senator Cory Booker, builds on the House-passed CLARITY Act but faces hurdles in navigating overlapping committee jurisdictions.

Bitcoin's near-term trajectory remains tied to macroeconomic indicators. The upcoming release of U.S. CPI data and FOMC meeting minutes on November 19 could sway investor sentiment, particularly as traders weigh the likelihood of rate cuts against persistent inflationary pressures. For now, options market positioning reflects confidence in a rebound, with Skew analysts noting renewed short interest but cautioning that "pivotal price points" around $104,000 may yet trigger renewed buying.