Tag: 92K

Falling Wedge Breakout Propels Bitcoin Price Above Key Resistance at $9.2K

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Within the past few hours Bitcoin (BTC) price managed to press through the $9,200 resistance level to $9,281. While the 2.58% gain may not be much to talk about, the move above the key resistance level is a step forward and the initial move to $9,180 closed the CME gap from last weekend. Crypto market weekly price chart. Source: Coin360 Since dropping to $8,640 on May 25, Bitcoin price has gained 7% and this occurred as the S&P 500 and Dow both rallied higher this week.  On Wednesday both indexes…

Bitcoin Breaches $9.2K as Open Positions on CME Futures Hit 10-Month High

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Bitcoin is quickly gathering upward momentum alongside a surge in open positions on futures listed on the Chicago Mercantile Exchange (CME).  The top cryptocurrency by market value jumped to a high of $9,220 at 10:20 UTC on Wednesday, having settled (UTC) above $9,000 on Tuesday to register its first above-$9,000 daily close in two months. Meanwhile, open interest – or the number of futures contracts outstanding on the CME – rose to $351 million on Tuesday, the highest level since July 10, 2019, according to the data provided by crypto…