Bitcoin Futures First Fall Below $12,000 This Week

[ChainDD report] July 12 (ChainDD) On July 11 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, and first closed below $12,000 in four days, after hitting the highest close in nearly two weeks on July 9. All the active Bitcoin futures contracts fell about $500 off the $12,000 level since the beginning of this week. As of July 5, the most active contract crashed over $1300, namely about 10% decline in the week, after the 49% weekly surge in the previous week as the second consecutive weekly gain. In the whole month of June, it rose 47.5%.

On July 11, July-delivered Bitcoin futures BTC at CME tumbled 4.4% to $11,730, after falling 10.4% last week. August, September and December-delivered Bitcoin futures BTC respectively lapsed the $11,800, $11,900 and $12,000 levels the same day, with the daily decline of $590,$615 and $610.

According to ChainDD’s market tracking indicators, Bitcoin spot price on Binance traded above $11,300 level, declining more than 1% over the past 24 hours.


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