Historical CME Pattern Suggests Bitcoin Rally to $7.7k is Likely to Brutally Reverse

The Bitcoin price rose to as high as $7,770 on major cryptocurrency exchanges on April 23. The abrupt upsurge coincided with the expiration of CME’s BTC futures contracts for April. Data from Skew indicates that the CME Bitcoin futures volume and open interest spiked to a monthly high. The surge in trading activity preceded the…

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Author: toutiao