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Bitcoin’s value surged by 7.5% as the year began, reaching an impressive $45,900. This notable upswing was primarily fueled by heightened activity on the Chicago Mercantile Exchange (CME). Intriguingly, the CME’s Bitcoin price soared to about $1,400 higher than that of other exchanges, revealing substantial purchasing pressure. Recognized for hosting cash-settled Bitcoin futures contracts, the CME Group attracts noteworthy investors, rendering its price movements especially significant.
CRYPTO BREAKING NEWS
— InnovatekMobile (@Neome_com) January 2, 2024
Bitcoin Price Soars Above $45,500: Top 3 Reasons. The Bitcoin price has risen to over $45,900 in the last few hours, an increase of 7.5% in the last 24 hours. These are the three main reasons: #1 … check us out @ https://t.co/8dh137aX4R pic.twitter.com/6a1Bjvs99I
Analyst Will Clemente pointed out this unusual activity, expressing on X that CME is trading at fresh 52-week highs on an illiquid Monday night like someone knows something. Additional analysts underscored this trend, with MacnBTC noting that something leaks as CME is up +8.5% on the day and Bluntz Capital observing that CME tradfi apes are aping a huge premium. All signs point to a bullish trajectory for Bitcoin (BTC).
Key Bitcoin Levels to Watch – January 2
The overall trend of BTCUSD remains bullish despite the just-concluded long-term correction phase. The price is currently rallying upward along a diagonal support.
A break of structure recently occurred to the upside, confirming the continuation of the bullish trend. However, according to the Stochastic Oscillator, a short-term retracement into the discount zone is probable.
BTC/USD Key Levels
Resistance Levels: $43100.00, $46000.00, $52100.00
Support Levels: $37800.00, $31900.00, $24900.00
BTC Metrics
Total Market Capitalization: $1.62T
Bitcoin Market Capitalization: $892B
Bitcoin Volume: $34B
Market Rank: #1
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