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Bitcoin and Ether Futures Experience a Downturn

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It is reported that in the late afternoon of New York on Friday (February 24), the BTC main contract of CME Bitcoin futures was at $23185, down 4.08% from the …

Bitcoin and Ether Futures Experience a Downturn

It is reported that in the late afternoon of New York on Friday (February 24), the BTC main contract of CME Bitcoin futures was at $23185, down 4.08% from the late afternoon of New York on Thursday. The intraday trading was in the range of $24365-22965, down about 7.00% this week. The DCR main contract of CME Ether futures was at US $1612.50, down 2.89% from Thursday. The intraday trading was between US $1673.50-1581.50, down about 5.70% this week.

CME Bitcoin futures BTC main contract closed at $23185 in New York

Interpretation of the news:


The BTC main contract of CME Bitcoin futures experienced a significant downturn in the late afternoon of New York on Friday, February 24th. The price was reported to be at $23185, which is 4.08% lower than the late afternoon of New York on Thursday. The intraday trading ranged from $24365-$22965, which means there was a 7.00% decline in trading this week.

Similarly, the DCR main contract of CME Ether futures also experienced a downturn. The price was noted to be at $1612.50, which is 2.89% lower than Thursday. The intraday trading ranged between $1673.50-$1581.50, which means there was a 5.70% decline in trading this week.

This downturn in the cryptocurrency market is not new. Bitcoin and other cryptocurrencies have had a long history of volatility, and their prices are highly sensitive to news events and other factors. For example, the recent statements by Elon Musk about Bitcoin’s potential environmental impact have had a significant impact on Bitcoin’s price.

The decline in cryptocurrency futures can also be attributed to the uncertainties surrounding the global economy. Investors are watching carefully as the world tries to recover from the COVID-19 pandemic, and many are wary of investing in high-risk assets like cryptocurrencies.

However, some experts believe that this downturn is only temporary. They predict that Bitcoin and Ether will both continue to rise in value over the long term. The volatility of these assets might be viewed as an opportunity for investors to take advantage of the dips and purchase at a lower price.

In conclusion, the downturn in the BTC and DCR main contracts of CME Bitcoin and Ether futures can be attributed to a range of factors, including the volatility of the cryptocurrency market and the uncertainties surrounding the global economy. Nevertheless, investors should view this as an opportunity to take advantage of the dips and invest in the long-term potential of cryptocurrencies.

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