Bitcoin Futures Fall Below $9800 to the Lowest in Almost a Month

[ChainDD report] July 17 (ChainDD) On July 16 EST, the most active Bitcoin futures contracts of CME Group, the largest futures trading exchange in the world, ended the day in a second losing streak with the lowest close that below $9800 since June 20, 2019. All the active Bitcoin futures contracts fell about $1200 off the $10,000 level. As of July 12, the most active contract surged nearly 4 in a week, after the 10% weekly plummet in the first week of this month that ended the second consecutive weekly gain.

On July 11, July-delivered Bitcoin futures BTC at CME tumbled 10.8% to $9730, after falling over 3.9% last week. August-delivered Bitcoin futures BTC also fell below $9800 and September and December-delivered Bitcoin futures contract respectively lapsed the $9900 and $10,000 levels the same day.

According to ChainDD’s market tracking indicators, Bitcoin spot price on Huobi Global and many other exchanges tumbled off $9400, hitting the lowest intraday in almost a month, and traded above $9500 as of writing, declining more than 11% over the past 24 hours.

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