Bitcoin Rises to New Highs This Year

Bitcoin continues to be sought after by funds today, once breaking the $11,000 mark and setting a new high this year. At the same time, the futures market has become active again after a quiet situation in recent months. The trading of many Bitcoin futures exchanges in the United States has more than doubled, which is likely to contribute to the price trend.

According to data from Binance, the world’s largest cryptocurrency exchange, Bitcoin has risen to $11,394.86 today, a new high this year. As for the trading data platform CoinMarketCap, after integrating data from multiple exchanges, Bitcoin’s high in the past 24 hours is $11,298.22. As of 10 pm, Bitcoin rose 6.3% to $1,0969.4.

At the same time, the Bitcoin futures market is finally no longer stagnant. Data from the futures analysis platform Skew shows that, for example, the trading volume of the Chicago Board of Trade (CME) yesterday rose by 5.7 times to a one-year high, with a trading volume of 1.32 billion. Dollar. Taking multiple major futures exchanges together, the single-day trading volume rose nearly 1.9 times to 43 billion US dollars, the highest single-day since March 13 this year, and a total of 5 billion US dollars of new futures contracts were added.

Naeem Aslam, the chief market analyst of AvaTrade, a foreign exchange trading platform, believes that the sudden rise of Bitcoin this time reflects that it has broken through the long-standing important psychological barrier, and it is estimated that the upward trend is expected to continue. If its upward trend is further confirmed, Bitcoin’s upward trend will be like a “beast”, and the next resistance level is expected to be $15,000. As for, Bloomberg analysts also mentioned in the mid-year report that the US government allows local banks to custody cryptocurrencies, which should eliminate the last doubts of institutional investors. The key to the future is to pay attention to the activity of cryptocurrency e-wallets and believe This year will rise to the level of 12,000 US dollars.