CME Group BTC Futures report could pump BTC higher

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Bitcoin

 

 CME Bitcoin futures data may be leading indicators of Bitcoin value crossing the $10,000 mark soon.

 

This morning, Bitcoin is up to $9800, which is a significant gain from values earlier this week in the low $9000’s territory.

 

Now William Suberg at Cointelegraph reports that the CME Group’s Bitcoin futures have reached the $10,000 level.

 

“Data from CME Group’s Bitcoin futures shows the implied price of Bitcoin reaching the symbolic five figures on Feb. 6,” Suberg writes. “Since then, a slight correction has sent BTC/USD a shade lower — it currently trades at $9,800, while CME’s futures are hovering around $9,900.”

Notable crypto commentator filbfilb, quoted in Suberg’s story, suggests that it’s a “watershed” moment for Bitcoin, elaborating:

 

“Overall picture is good going into the close… Would be glorious if CME takes us across 10k into the close…”

 

“The daily chart looks constructive with the cryptocurrency printing bullish higher highs and higher lows with each passing week,” adds Omkar Godbole at Coindesk this morning. “Confirming the uptrend are the ascending five- and 10-day moving averages (MAs) and a bullish crossover of the 50- and 100-day MAs. The MACD histogram, meanwhile, is printing higher bars above the zero line, indicating a strengthening of bullish momentum.”

Meanwhile, Yuri Molchan over at U-Today is reporting on how Warren Buffett no longer calls Bitcoin “rat poison squared.” That’s a good thing, right?

Many others are bullish on BTC as well: after all, it’s only been a few months since values were above 10K, and many are expecting much bigger gains as blockchain “catches on” around the world. Will 2020 be the “Year of Bitcoin?”

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