Bitcoin attempts to bounce back from the seven-month low of $5,755 today, but as sellers continued to dominate, the trend goes in narrow range.
Bearish trend of BTCUSD has prolonged from the peaks of $7,767 levels to the current $6,702.10 levels.
Those who want to enjoy the Bitcoin’s bear market, can test their luck into the newly invented bitcoin derivatives contracts on CME and CBOE.
Coming Friday would be the latest round of CME BTC futures (BTCQ18) expiration.
Key points to be remembered during expiration of such derivatives contracts: The nature of futures contracts means they need to be settled on a set, predefined date, based on a contract.
All CME contracts will have to be traded, or settled, before this date, to avoid having to deal with the complication of having to deliver on the underlying asset.
Usually, there is a drop in the trading volume of futures ahead of expiration dates, as traders seek cash settlement over an expired contract, and having to deal with delivery hassles.
Lower trading volumes often coincide with periods of higher price volatility.
Bitcoin futures offer an instant, cost-effective method of crypto trade markets. They are standardized contracts to buy or sell a particular asset at a set price, on a set date in the future, in predefined quantity and quality.
Open interest represents the total number of contracts either long or short that have been entered into and not yet offset by delivery.
Currency Strength Index: FxWirePro's hourly BTC spot index is flashing at 96 levels (which is bullish), while USD spot index is at -126 (bearish), while articulating at (12:51 GMT). For more details on the index, please refer below weblink:


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