Crypto News

The futures market is fueling the price of Bitcoin

Mid-January is constantly growing daily volume of Bitcoin futures platform Bakkt. This gives a strong impetus to the growth rates of the market leader.

Within a month, almost the middle of January, while the price of BTC has grown from 8 000 $ to 10 $ 500 daily sales on Bakkt with 10 million increased to $ 24 million.

Sales of BTC on Bakkt. Source: Bakkt Volume Bot, Twitter

The increase in sales on regulated futures platforms Bakkt and CME Group testifies to the growth of demand for Bitcoin from both retail and institutional investors.

Along with the increase of the dominant cryptocurrency technical indicators, in particular the Golden cross formed by the intersection of bottom-up short-term and long-term moving averages 50 EMA and 200 EMA on the daily time frame, show great potential of growth for BTC.

Analysts predict a continuation of the rally for leaders of the cryptocurrency market with periodic setbacks.

Minor correction to allow the market to maintain its momentum without the risk of substantial decline in the short term.


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