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CME Bitcoin Futures Expiring Today While BTC Price Takes A Drop to $9,250

CME Bitcoin Futures Expiring Today While BTC Price Takes A Drop to $9,250

  • Bitcoin futures trading at $9,550 while current spot prices hovering around $9,250
  • Meanwhile, two CME gaps present at $8,540 and $8,935
  • CME has traded more than $100 billion in total notional value since its launch
  • Today is the day of Bitcoin Futures expiration.

CME Group launched the cash-settled Bitcoin futures during the peak of Bitcoin price in December 2017, where one CME contract involves five BTC.
Currently, the price of Bitcoin futures is trading at $9,550, up from the current spot price of around $9,250.

Now, it’s to be seen how these futures expiry will affect the price of the flagship cryptocurrency which today went as high as $9,529 on Bitstamp.
“HUGE move coming up (…) I'm generally bullish on this one but won't let my guard down, said analyst BitBit.
Currently, there are two gaps present at $8,540 that occurred during the bullish break-out last weekend and then at $8,935 earlier this week during the closing hours on CME.
As we reported, the latest study found that over 95% of the CME gaps are filled with “odds are always in favor of a close, but drawdowns if you only play the gap close can be painful and costly[/size]