Bitcoin CME futures have surged above $100,000 for the second time in just five days, indicating strong institutional demand and boosting optimism for the cryptocurrency’s spot price to hit the same milestone.
With open interest at record levels and volume surging across major exchanges, analysts have pointed to key price ranges and market dynamics that could push Bitcoin’s spot price past the elusive six-figure mark.
Bitcoin CME futures headed towards $100,000
bitcoin cme futures price It first crossed $100,000 on November 22 and then reached a peak of $100,200 on November 29.
This underlines the growing institutional interest, with open interest exceeding 40,000 contracts – a record for the Chicago Mercantile Exchange.
For perspective, this is an increase of 58% compared to the previous all-time high in November 2021.
demand for #bitcoin Is through the roof: Open interest in Bitcoin futures on CME has surpassed 40,000 contracts for the first time in history. Since the beginning of the year, the total number of outstanding contracts for Bitcoin has doubled. To put this in perspective,…
Futures trading volume also reached $12.3 billion during the Thanksgiving holiday week, as institutional investors showed increased engagement.
The increase in trading volume was accompanied by a strong “Coinbase premium”, where BTC/USD prices on Coinbase were $200 higher than those on Binance, reflecting increased buying pressure.
Despite this optimism, the spot price of Bitcoin is hovering at $98,510, just below $100,000 as of November 29.
Analysts have described the $100,000 level as a “fortress”, with significant selling pressure seen in the $99,700 to $100,000 range.
Nevertheless, liquidation of short positions totaling $55 million added momentum to the upside.
Experts believe that Bitcoin reaching $99,000 could trigger another wave of liquidations, which would create the force needed to push the spot price of Bitcoin above six figures.
It seems all systems are in place for Bitcoin to reach $100,000
in one Interview with CointelegraphJAN3 CEO Samson Mow believes Bitcoin will surpass $100,000 as a turning point in what he calls the “Omega Candle” era, characterized by daily price increases of $10,000 or more.
Maw linked his growth forecast to systemic issues such as rising global debt and declining confidence in fiat currencies, which could accelerate Bitcoin adoption.
On-chain data supports this narrative, showing an increase in social media discussions about Bitcoin’s price movements and improved relative strength index (RSI) levels, indicating strong buyer control.
Technical analysts have highlighted $97,000 and $98,300 as important levels for Bitcoin to break the $100,000 resistance.
Historical trends increase optimism.
Bitcoin, often declared “dead” by skeptics – 415 times according to BitcoinDeaths – has consistently defied the odds, delivering rapid returns.
Analysts expect the global money supply (M2) to increase significantly by 2026 jamie coutts There is hope that Bitcoin will gain a larger share, potentially taking its price to $132,000 in the current cycle.
The growing demand for Bitcoin is another important factor driving market optimism.
The cryptocurrency’s market cap has reached a record $1.94 trillion due to institutional investment and increased interest following the approval of a spot Bitcoin ETF at the beginning of the year.
Post Bitcoin CME futures cross $100K for the second time in a week as analysts eye BTC hitting $100K first appeared on Invez
