Volatility has been a main talking point over the last few days looking at many markets across different asset classes, and that volatility has stayed present in the Crypto futures markets starting off this week. Bitcoin futures have seen a steady increase in price since the lows in April and were able to climb to a new all time high price at the beginning of the month over $127,000. Since hitting that price, the market has been driven lower through previously significant levels and is trading lower today by about 3.7%. This downtrend is not just for Bitcoin futures, but also Ether, XRP, and Solana futures as well.
Looking at the other Crypto futures outside of Bitcoin, XRP has had the most dramatic selling pressure of the 4 products and is now trading right near the level it was trading at when the futures contract was launched after selling off 7% on the day today. Ether futures are also trading lower by over 6% on the day today after reaching a new all time high price back in August. These products often see significant volatility and the momentum has seemed to have shifted to the downside, and traders will be looking for a catalyst to send prices back higher before the end of the year.
*CME Group futures are not suitable for all investors and involve the risk of loss. Copyright © 2023 CME Group Inc.
**All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience.
