Bitcoin futures suggest price gains to slow down
0Bitcoin futures suggest price gains to slow down.
(Reuters) — Newly launched bitcoin futures on Monday suggested that traders expect the cryptocurrency’s blistering price gains to slow in the coming months, even as it blasted above $17,000 to a fresh record high in the spot market.
Chicago-based derivatives exchange Cboe Global Markets launched the futures late on Sunday, marking the first time investors could get exposure to the bitcoin market via a large, regulated exchange.
The one-month bitcoin contract opened at 6 p.m. local time on Sunday at $15,460. By late afternoon on Monday in New York, it was trading at $18,650, roughly 8 percent above bitcoin’s spot price of $16,900 on the Bitstamp exchange BTC=BTSP.
Bitcoin earlier hit a record high of $17,270.