The post CME Bitcoin Futures Soar Past $100,000 Again: Key Market Insights and Future Predictions appeared on BitcoinEthereumNews.com.

According to recent reports from Cointelegraph, the Chicago Mercantile Exchange (CME) witnessed its Bitcoin futures surpass the significant threshold of $100,000 on November 29, reaching $100,200. This resurgence marks the second instance in under a week where futures have breached this critical level. Notably, the open interest for CME Bitcoin futures has exceeded 40,000 contracts, accumulating a trading volume of an impressive $12.3 billion just prior to the Thanksgiving holiday. The current spot price of Bitcoin peaked at $98,600 before experiencing a retraction, revealing a price disparity of over $200 between leading exchanges, Coinbase and Binance. Market analysis identifies heightened selling pressure around the $100,000 zone, with recent activity resulting in the liquidation of roughly $55 million in short positions. To effectively penetrate the psychological barrier of $100,000, further increases in long positions will need to elevate the price past $99,000, initiating a potential wave of new liquidations. Source: https://en.coinotag.com/breakingnews/cme-bitcoin-futures-soar-past-100000-again-key-market-insights-and-future-predictions/

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Filed under: News - @ November 30, 2024 9:26 am