Since these are cash settled futures, a large move up may have the unintended consequence of generating more selling pressure. If you're hedging a long BTC posi

Since these are cash settled futures, a large move up may have the unintended consequence of generating more selling pressure. If you're hedging a long BTC position with futures, you could run short of cash required to maintain the position. Thus, you would sell BTC to get USD. If this were a BTC settled contract, you would just hand over the BTC at delivery. Since these are USD settled, futures might put a damper on the rate of increase.