Bitcoin futures market announcement<\/a><\/strong> and their posterior launching \u2013 were mostly responsible for driving the cryptocoin upwards at full force, outperforming expectations from almost everyone and gaining trust from more and more people, thus becoming more mainstream in the process. <\/span><\/p>\nThis has proven to be true, with the hype generated by CME\u2019s previous announcement of a bitcoin futures market scheduled for today, and market movements observed within the first week of CBOE\u2019s own futures contract kick-off (which began operating last December 10), having an impact on BTC price. <\/span><\/p>\n<\/p>\n
Market exhaustion?<\/b><\/span><\/p>\nHowever, it is worth noting that, after the rally it took to said milestone and the hype around CME\u2019s futures launch, it didn\u2019t maintained its momentum, dipping shortly after. Charts show that it went as low as $ 18,355 in its price at 01:39 UTC, although globally, it kept trading at premium prices thanks to movements in Asian exchanges like Bithumb and bitFlyer.<\/span><\/p>\nThis could mean that some brokerage firms are taking a careful approach to bitcoin futures, watching as this market flows. But it also could mean that some \u201cbearish\u201d people are not that skeptical to bitcoin as they claim to be.<\/span><\/p>\nNevertheless, the BTC market is showing signs of exhaustion with numbers going slowly down, possibly due to some whales taking short position, then pumping up its price by buying more bitcoins and then selling them off to prompt a dip in its value, profiting from these fluctuations.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"As if the milestone it represented hitting the All-Time High of $ 10,000 wasn\u2019t enough, Bitcoin has just reached another breakthrough this Sunday, when pierced its next big barrier: the USD\/BTC exchange rate of $ 20,000.<\/p>\n","protected":false},"author":3,"featured_media":3350,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100,70,74],"tags":[4602,4610],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/3348"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=3348"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/3348\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/3350"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=3348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=3348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=3348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}