CBOE Bitcoin Futures Expire at New Low on CBOE of $3,567.93 Here are Several Bullish Signals...
Bitcoin (BTC) futures on the Chicago Board Options Exchange (CBOE) expired at its lowest settlement price yesterday since its launch in December 2017. Trading under ticker XBT/G9, the final settlement price for the February 2019 futures was $3,567.93 published by the CBOE.
Bitcoin (BTC) futures have been moving sideways for the last month, trading within a range of of approximately $3300-$3700, with the sell off pressure diminishing. The bollinger bands are converging, indicating a breakout, to the upside, due to the reduced volatility.
There are several developments in the space that are possible reasons for this:
- Fidelity looking to launch Bitcoin (BTC) custody service in March 2019
- ETF re-application at the SEC
- Bakkt futures platform is on the horizon
Keep an eye out for Bitcoin (BTC) to break the $3750 resistance level soon. If it does, it will look to push towards $4000.
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