From around 14:00 UTC on July 10, Bitcoin fell $962 from its previous price in a little over an hour, landing just above the $12,000 psychological support before another wave of sellers dragged it to a peak low of $11,445.
The CME Group has seen a massive surge in open interest for Bitcoin Futures contracts that also hints towards rising institutional participation.
The Commodity Futures Trading Commission (CFTC) cleared Bitcoin derivatives provider LedgerX to offer physically settled BTC futures contracts to institutional and retail customers.
As ICE Futures Exchange opens its Bitcoin Futures interest, CME concurrently soars in what appears to be a four day all-time high in a row.
Bitcoin breaches another important milestone extending its gains above $11,300 levels. With this, Bitcoin has rallied over 20% in just last one week.
Here’s how the analysts are predicting higher targets for Bitcoin price based on the strengthening technical charts, growing fundamentals, and higher institutional participation.
ICE’s Bakkt plans to set a new standard for institutional market quality for digital assets with the launch of its Bitcoin Futures platform on July 22, 2019.
One of the most prominent Wall Street names, Fidelity Investments, still believes in Bitcoin and continues to mine it.
Bakkt expects the soft launch of their Bitcoin Futures product by July, explaining that it intends to iron out any kinks in the coming weeks. They confirmed confirmed working “closely” with the U.S. Commodity Futures Trading Commission (CFTC).
Bitcoin price attained a massive surge on Tuesday, May 14, moving over $8000 levels while attaining a new high in 2019. A massive trading volume of $31 billion is responsible for this Bitcoin rally.