CME’s Bitcoin Friday Futures Are Ideal for News Traders: CF Benchmarks
Friday contracts debuted on Sept. 30 with a bang, becoming CME’s most successful crypto futures launch ever.
Friday contracts debuted on Sept. 30 with a bang, becoming CME’s most successful crypto futures launch ever.
The “three-line break” chart, which filters out noise and erratic price movements, suggests the broader bull run has begun.
Trading firm QCP Capital said the move was similar to BTC’s price action in 2016 and 2020 before the U.S. elections.
BTC blows past downtrend line from late September highs, with $62,000 as key support.
Bitcoin fell, with the news likely to raise the odds of a Fed pause at the its next policy meeting in November.
A long straddle involving the November expiry $66,000 call and put options crossed the tape on Deribit early Wednesday.
Most crypto spot and futures trading are conducted against stablecoin pairs – and an increase signals capital parked on the sidelines to deploy on favorable catalysts.
The divergence is “setting the stage for something big,” one observer said.
NEAR, UNI and APT led crypto gains, while bitcoin faded after pushing through $64,000 earlier in the day.
The company strengthens its bitcoin position with a strategic options sale, generating nearly 24 BTC ($1.44M) in premium.