Next Set of CME Bitcoin Futures Contracts Expire Today: What Can We Expect?


Back in December 2017, Bitcoin reached an all-time high after the Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (CBOE) launched Bitcoin futures trading.

The trading of Bitcoin futures contracts takes place in periods of three months. The trading of these contracts started on July 30th, and after three months, today is the last day of trading. The trading of the CME Bitcoin futures will be halted around 4:00 pm London time.

According to some cryptocurrency experts, when Bitcoin futures contracts are close to expiring, the cryptocurrency market becomes more volatile or less active. On the matter, Thomas Lee, Fundstrat Global CEO, said:

“Bitcoin sees dramatic price changes around CBOE futures expirations. This was something flagged by Justin Saslaw at Raptor Group. We compiled some of the data and this indeed seems to be true. A broader observation is there is significant volatility around these expirations.”

At the moment, Bitcoin is in a very stable period. During the last 10 days, its price fluctuated between $6,300 and $6,700. If we extend this to the last 2 months, we see that Bitcoin fluctuated between $6,200 and $6,800. This could be related to the fact that speculative investors left the market. Furthermore, trading volume has also fallen to the lowest point in months.

Since CME Bitcoin Futures expire today and we enter in a new period of investment products, we could see an increased volatility in the market. The next Bitcoin futures contracts expiring will be on November 30.

In the coming months, a Bitcoin ETF might be approved by the U.S. Securities and Exchange Commission (SEC) and the Bakkt platform will be launching in December. Investors should also follow closely which will be the impact of these events in the cryptocurrency market.

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