CME BTC Futures Gap Up by Over $3,000

IconCryptoNewsTerminal Staff14 Jul, 2024

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CME BTC Futures Gap Up by Over $3,000

CME Bitcoin (BTC) futures opened with a sizeable gap up on Thursday, starting the trading day at $60,985, a jump of $3,140 from the previous day's closing price of $57,845. This significant gap reflects the bullish sentiment in the crypto market and adds to the recent rally that has seen BTC prices surge to new highs. Traders and analysts have attributed the gap to several factors, including positive news from PayPal's crypto expansion plans, increasing institutional adoption of cryptocurrencies, and anticipation of a Bitcoin ETF approval by the US Securities and Exchange Commission (SEC). The gap up has also attracted attention from technical analysts, who view it as a bullish signal indicating further upward momentum for BTC. They point out that gaps often act as support or resistance levels, suggesting that the $60,000 mark could now serve as a support zone for BTC prices. Overall, the CME BTC futures gap up is a significant development that signals continued bullishness and investor confidence in the cryptocurrency market. As the market consolidates at these elevated levels, traders will be watching closely for any signs of a pullback or further upside potential.

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