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Bitcoin breaks the $ 10k in CME futures

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Bitcoin futures (BTC) listed on the Chicago Mercantile Exchange (CME); they have broken all highs for several months, exceeding $ 10,000 today in the morning; for the first time this year 2020.

Bull Run in sight?

Since this type of financial tool took place within the crypto ecosystem; The indexes of the world’s first crypto have followed the fluctuations of the Futures Contracts market.

This morning’s futures contract closed at an average of $ 10,030 per BTC; for the first time on October 26, 2019.

However, the psychological resistance level of $ 10k was only exceeded for a matter of minutes. After this the value of the futures dropped to $ 9,850; This value is the same in which crypto exchanges traverse the BTC.

Bitcoin breaks 10k in CME futures
Bitcoin breaks 10k in CME futures

The truth is that for weeks, an enthusiasm and a positivist sentiment has driven BTC prices to annual highs that are closer to $ 10,000.

Is that after challenging the level of support of $ 9,000 on February 4. The hype caused Bitcoin to jump quickly to $ 9,840; Its best price since September last year.

In addition to this break; for minutes; of the $ 10,000 has resulted in traders in all exchanges getting to work. As we said, since the future crypto came out prices have tended to follow them.

Crypto Exchanges are infected with positivism

There are long open positions in many of the crypto exchanges. For example, the number of futures available at CME has exceeded the maximum of 5 months of $ 249 million last Wednesday.

While, in the case of Bakkt they rose to a record of $ 13 million, also last Wednesday, beating the previous record of $ 12 million reached on February 3.

On the other hand, BitMex has also broken its own record with a total of $ 1.5 billion in its futures. Numbers a bit surprising right?

The general image is good at the end of today. It would be glorious if CME takes us through 10k to the close in the price of each Bitcoin, filbfilb said important crypto trader.

Bitcoin recovered by 36 percent in January to record its best month since May 2013, becoming the best January performance in seven years.

Do you think Bitcoin (BTC) will break the $ 10,000 before the end of February? Do you currently feel confident in your BTC position?

Another factor in price inflection may be the case of Brexit that will take place today, or the tragic case of Coronavirus 😷.

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Ernesto Briceño Leonett

Economics student of the UCV. Defender of individual freedoms and of course also of the market and cryptocurrencies.

Ernesto Briceño Leonett

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