CME Bitcoin Futures Hit $10K as BTC Price Finally Nears Five Figures
CME Bitcoin Futures Hit $10K as BTC Price Finally Nears 5 Figures
CME Bitcoin futures investors were trading the equivalent of $10,000 per Bitcoin as weekly gains top 5%.
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Bitcoin (BTC) crossed the $10,000 mark for swathes of institutional investors this week as markets looked increasingly likely to surge college still.
Bitcoin 7-day cost chart. Source: Coin360
CME reaches $10K per Bitcoin
Information from CME Grouping's Bitcoin futures shows the implied price of Bitcoin reaching the symbolic 5 figures on Feb. six.
Since then, a slight correction has sent BTC/USD a shade lower — it currently trades at $ix,800, while CME's futures are hovering effectually $9,900.
CME Bitcoin futures 2-week chart. Source: TradingView
Considerable enthusiasm has accompanied sustained price momentum for Bitcoin throughout the past week's trading.
Afterwards challenging $nine,000 support on Feb. four, an sharp upward surge saw the largest cryptocurrency reach new local highs of $9,840 — its all-time position since mid-September.
As Cointelegraph reported, Bitcoin's year-to-date operation currently stands at more 35%, second but to Tesla stock in terms of gains since Jan 1.
Analyst optics $10K futures close
For Cointelegraph Markets annotator filbfilb, press-time levels represented an important watershed for BTC/USD, with a major move in either direction a strong possibility.
"Overall picture is good going into the close... Would be glorious if CME takes the states beyond 10k into the shut," he summarized to subscribers of his Telegram trading aqueduct on Friday.
Filbfilb added that he eyed potential support at $9,550 should a sell-off ensue.
Futures markets meanwhile go along to reach new achievements, with beau operator BitMEX seeing new record open interest for its ain futures production — $i.5 billion.
Source: https://cointelegraph.com/news/cme-bitcoin-futures-hit-10k-as-btc-price-finally-nears-five-figures
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