Bitcoin CME's future surpasses $ 10,000 when the price of BTC finally reaches the 5-digit level

Institutional investors' belief in Bitcoin (BTC) prices has surpassed the $ 10,000 mark this week as the market looks set to continue rising higher.

Bitcoin 7-day price chart. Source: Coin360
Bitcoin 7-day price chart. Source: Coin360

CME reaches $ 10K per Bitcoin

Data from Bitcoin's future CME Group shows that Bitcoin price implies reaching 5 symbolic numbers on February 6.

Since then, a small correction has caused the BTC / USD pair to decline slightly – currently trading at $ 9,800, while CME's Bitcoin future remains hovering around $ 9,900.

2-week CME Bitcoin futures chart. Source: TradingView
2-week CME Bitcoin futures chart. Source: TradingView

Optimistic sentiment has been accompanied by sustained price increases for Bitcoin during the past week of trading.

After testing support of $ 9,000 on February 4, the price of BTC suddenly jumped to reach a peak of $ 9,840 – the best position of the king since mid-September last year.

As Toiyeubitcoin reported, Bitcoin's annual performance is currently at 35%, second only to Tesla shares so far this year.

The analyst sets a target of $ 10,000 in the near future

According to filbfilb – a regular analyst for CoinTelegraph, the price at the time of writing represents an important turning point for the BTC / USD pair, with a major move in one of two strong ability directions.

“The overall picture is very good in the near future … It would be great if CME brought it past $ 10k at the end of the session,” he told his Telegram followers on Friday.

Filbfilb added that he found potential support at $ 9,550 if a sell-off occurred.

Meanwhile, futures markets continue to achieve new achievements, with huge derivatives trading platform BitMEX witnessing a record number of open contracts reaching its futures product – 1, 5 billion USD.

READ  Bitcoin price analysis on February 24: Will Bitcoin's rally be overpowered by the resistance of $ 10,000?

Maybe you are interested:

Join our channel to stay up to date on the most useful news and knowledge at:

According to CoinTelegraph
Translated by ToiYeuBitcoin

Read more :

Leave a Reply

Your email address will not be published. Required fields are marked *