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Market Snapshot – Bitcoin Futures Begin Trading as Central Banks Loom Ahead

Posted by Pip Phenes on

Bitcoin Futures Begin Trading

With the lack of major news today, bitcoin futures took center stage as the CBOE began trading on them as of today. The prices had fallen towards the $13,000 region over the weekend but once the futures trading began, the prices began to recover and now trade above the $16,000 region. It remains to be seen whether this would lead to another bullish leg in the prices of bitcoin as we enter into a new phase as the far as the bitcoin market is concerned. A lot of traders would get an opportunity to short the futures and this is likely to lead to some good 2 way trading in the market and with the CME also set to begin futures trading next week, it should be interesting times ahead for the BTC market.

Volatile Week Ahead

It is likely to be an important week for the markets as there is a host of events and data from the central banks. The central banks of the US, Eurozone and the UK are set to make announcements this week and all of this is likely to bring in a lot of volatility in the markets in the short term. This hopefully would help to break many of the currency pairs out of their ranges ahead of the upcoming holidays to close the year. The Fed is expected to hike rates this week but the announcements from the others should be no less interesting