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Bitcoin's Price is Flirting With $1,000
Bitcoin markets are breaking out, inching closer to $1,000.
By Stan Higgins
Updated Sep 11, 2021, 1:03 p.m. Published Feb 2, 2017, 2:50 p.m. 1 min read
The price of bitcoin is inching closer to $1,000 once again.
Prices hit a high of $994.79 during morning trading, according to the CoinDesk Bitcoin Price Index (BPI), after opening at an average of $977.52. Prices haven’t exceeded $1,000 since 6th January, having crossed that benchmark on the first day of 2017.
The price of bitcoin is currently at an average of $993.04.
CNY-denominated markets are up more than 9%, reaching a high of ¥6,890.56. Those markets are averaging ¥6,865.50, BPI data shows, representing an increase of roughly 9.3%
Prices have been rising since earlier this week, a move that came amidst a shift in the exchange ecosystem amongst toward markets that don’t charge trading fees. Observers are split, however, on the long-term trajectory of these trends.
Image via Shutterstock
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The launch of round-the-clock bitcoin futures trading eliminates the long-standing CME weekend gap and marks another step toward fully integrated institutional crypto markets.
What to know:
- From Friday, CME Bitcoin futures and options now trade 24/7 on Globex, ending the traditional Friday-to-Sunday market closure that created the widely watched “CME gap.”
- Despite the structural shift, liquidity remains concentrated in ETF options and offshore perpetuals, with IBIT options open interest far exceeding CME crypto options markets.
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