BTC (Bitcoin Futures)
The Bitcoin futures contract on CME — 5 BTC per contract with $5 tick size and $25 per tick. The dominant institutional bitcoin trading vehicle.
What is BTC (Bitcoin Futures)?
BTC is the symbol for the standard Bitcoin futures contract, traded on CME. Each contract represents 5 bitcoin (BTC). At $70,000/BTC, one BTC contract represents $350,000 of notional exposure. The tick size is $5.00 per bitcoin, so each tick equals $25 in P&L (5 BTC × $5).
BTC futures launched on CME in December 2017, providing institutional traders a regulated venue to gain or hedge bitcoin exposure without holding physical bitcoin. The contract is cash-settled to the BRR (Bitcoin Reference Rate) — an aggregate of major exchange spot prices — eliminating physical-delivery and custody complications.
For prop firm traders, BTC futures are accessible only on accounts large enough to handle the high notional exposure and volatility. MBT (Micro Bitcoin) at 1/50 size (0.10 BTC per contract) is the standard retail-accessible variant. Most prop firm bitcoin trading happens on MBT, with BTC reserved for institutional or very large prop firm accounts.
How BTC (Bitcoin Futures) works
BTC contract specifications (May 2026):
- Symbol: BTC (sometimes BTC1! or @BTC)
- Exchange: CME Globex
- Underlying: Bitcoin (BRR — Bitcoin Reference Rate, aggregating major spot exchanges)
- Contract size: 5 BTC
- Tick size: $5.00 per BTC
- Tick value: $25 per tick (5 BTC × $5)
- Point value (per $1/BTC move): $5 per contract
- Contract months: Monthly cycle (front month plus 2 deferred)
- Trading hours: Sun 6:00 PM ET-Fri 5:00 PM ET, 1-hour daily break
- Settlement: Cash settled to BRR
Margin:
- Day-trading margin: $5,000-$15,000 per contract at most prop firms (high due to crypto volatility)
- CME initial margin: $50,000-$100,000+ (varies dramatically with realized vol)
MBT — Micro Bitcoin: 0.10 BTC per contract (1/50 of BTC). Tick value $0.50, point value $0.10 per $1/BTC move. Day-trading margin typically $100-$300 per contract at prop firms. The retail-accessible bitcoin contract.
Volatility profile:
- Daily range typically 2-5% of price = $1,400-$3,500 per BTC at $70,000 spot
- News-driven moves (ETF approvals, regulatory announcements, hacks): 5-15% in hours possible
- Weekend gaps common (BTC futures pause Fri 5 PM-Sun 6 PM ET while spot trades 24/7)
When prop firm traders use BTC/MBT: Macro-thesis trades (long-term BTC bull/bear positioning), event-driven trades (ETF news, halving cycles, regulatory developments), spot/futures basis arbitrage (rare in retail), high-volatility scalping during news.
Worked example
Setup: Trader on Tradeify $50K Growth funded account holds 1 MBT contract long from $70,000 ahead of BTC ETF inflow data, stop at $69,500 ($50 risk on MBT), target at $71,000 ($100 reward). Risk/reward 1:2.
Outcome — strong ETF inflows:
- BTC rallies on positive ETF flow data; price reaches $71,000 over the next 4 hours.
- Gross P&L: +$1,000 × $0.10 = +$100
- Commission ~$4 round-trip → Net ~$96
Comparison vs 1 BTC (full size):
- Same trade on 1 BTC: +$1,000 × $5 = +$5,000 reward, $2,500 stop risk.
- 50x bigger dollar P&L for the same percentage move.
Tradeify daily payout impact: A successful BTC event-day trade like this generates $96 net on MBT or $4,981 net on BTC. With Tradeify’s daily payouts, the cash settles next business day. Particularly valuable for crypto-event traders capturing weekly news flow.
BTC (Bitcoin Futures) vs related concepts
Side-by-side comparison of BTC (Bitcoin Futures) against the most commonly confused alternatives.
| Concept | Definition | Category |
|---|---|---|
| BTC (Bitcoin Futures) this term | The Bitcoin futures contract on CME — 5 BTC per contract with $5 tick size and $25 per tick. The dominant institutional bitcoin trading vehicle. | Specific Contracts |
| ES (E-mini S&P 500 Futures) | The E-mini S&P 500 futures contract — the most actively traded equity index future in the world, tracking the S&P 500 index with $50 per point and $12.50 per 0.25-tick. | Specific Contracts |
| GC (Gold Futures) | The standard Gold futures contract on COMEX — 100 troy ounces per contract with $0.10 tick size and $10 per tick. The dominant gold trading vehicle for futures prop firms. | Specific Contracts |
| Futures Contract | A standardized agreement to buy or sell a specific quantity of an underlying asset at a predetermined price on a specified future date — the foundational instrument of futures markets. | Futures Mechanics |
| Point Value | The dollar value of a one-point price movement on a futures contract — equal to the contract multiplier; a key input to position sizing math. | Futures Mechanics |
| Margin | The capital deposit required to open and hold a futures position — set by the exchange (initial margin) and broker (day-trade margin), typically 5-15% of contract notional value. | Futures Mechanics |
Why traders fail BTC (Bitcoin Futures)
Trading BTC futures with spot-bitcoin sizing assumptions. 1 BTC futures contract = 5 BTC notional = $350,000 at current spot. A typical retail crypto trader holding 0.5 BTC spot would never directly translate to 1 BTC futures contract — that’s 10x the position size. Always size by dollar notional.
Holding BTC across the Friday-Sunday weekend gap. BTC futures pause Friday 5 PM ET-Sunday 6 PM ET while spot bitcoin trades 24/7. News breaking during the futures pause can cause Sunday 6 PM open gaps of 5-10% ($3,500-$7,000 per BTC contract). Either flatten or use very wide stops for weekend holds.
Confusing BTC and MBT tick values. BTC tick is $25 (5 BTC × $5). MBT tick is $0.50 (0.10 BTC × $5). Sizing in dollars is essential; sizing in ticks requires knowing which contract. $50 stop on BTC is 2 ticks; $50 stop on MBT is 100 ticks.
Trading bitcoin without watching the dollar and tech equities. BTC has had varying correlations with USD strength and Nasdaq tech stocks over different cycles. Major macro shifts (Fed pivots, dollar resets) often produce coordinated BTC + Nasdaq moves. Standalone BTC analysis without macro context misses meaningful signals.
Frequently asked questions about BTC (Bitcoin Futures)
What is BTC futures?
BTC is the standard Bitcoin futures contract on CME, representing 5 BTC per contract. Tick size is $5.00 per BTC ($25 per tick), with a multiplier of $5 per $1/BTC move. The contract is cash-settled to the BRR (Bitcoin Reference Rate). MBT (Micro Bitcoin) is the 1/50-size variant at 0.10 BTC per contract.
How much is one tick on BTC futures?
One tick on BTC is $5.00 per BTC and equals $25 in profit or loss (5 BTC × $5). So a $100/BTC move is 20 ticks ($500). A $500/BTC move is 100 ticks ($2,500). One tick on MBT is $5.00 per BTC × 0.10 BTC = $0.50.
Should I trade BTC or MBT on prop firm accounts?
For most retail prop firm traders, MBT only. BTC requires accounts $100K+ and traders comfortable with $350K+ notional exposure. MBT at 0.10 BTC per contract gives access to bitcoin's volatility at retail-accessible sizing. Almost all retail prop firm bitcoin trading happens on MBT.
When does BTC futures trade?
BTC futures trade Sunday 6:00 PM ET to Friday 5:00 PM ET, with a 1-hour daily break. Spot bitcoin trades 24/7 — but futures pause Friday 5 PM-Sunday 6 PM. News breaking during the futures pause can produce significant Sunday-open gaps.
How does BTC futures differ from spot bitcoin or BTC ETFs?
BTC futures: cash-settled to BRR aggregate price, no physical bitcoin custody, transparent CME volume. Spot bitcoin: 24/7 trading, requires custody (cold/hot wallet), exchange-specific pricing. BTC ETFs (IBIT, FBTC): regulated equity wrapper, trades during US RTH only, NAV-based pricing. Futures are preferred for event-driven prop firm trading; ETFs for buy-and-hold; spot for self-custody enthusiasts.