RATE Group | Has Bitcoin’s Price Become Immune to the Effect of Expiring BTC Futures Contracts?
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Has Bitcoin’s Price Become Immune to the Effect of Expiring BTC Futures Contracts?

28 Oct Has Bitcoin’s Price Become Immune to the Effect of Expiring BTC Futures Contracts?

Posted at 20:30h in Bitcoin News by

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On the 26th of October, Ethereum World News notified its readers of the expiration of Bitcoin (BTC) Futures contracts offered by the CME Group. The BTC Futures contracts were expiring on the same day at 4pm London Time. Some traders have also put forth the idea that they usually expire at 4pm GMT. The difference between the two time zones is one hour but we can observe from this past Friday, that the price of BTC was not affected by the expiring contracts.

Evidence of a Stable BTC

The following chart highlights the price of Bitcoin over the past 7 days. It shows that the price of BTC has continued to be stable above $6,400.

Past Reactions of BTC During the Expiration of Futures Contracts

From the CME Website, we were provided with the following information as to when futures contracts expire:

Termination of Trading: Last Day of Trading is the last Friday of contract month. Trading in expiring futures terminates at 4:00 p.m. London time on Last Day of Trading.

Further breezing…

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