Bitcoin Futures Spike To Record High, But Single Coin Prices Remain Steady

Investing, News | July 6, 2018 By:

Bitcoin futures spiked to a record high on the CME on Thursday, indicating at least some people were paying attention during the US holiday weekend. What does the spike mean?  Either bullish sentiment is in the air, or some punters are betting that the down market that resulted from the last spike in April will be replicated. Or it could be an abberation.

Whatever the outcome, bitcoin continued to hold serve on its recent price rise, sitting at $6,600 per single coin as of mid-morning. That’s down slightly over one percent over the last 24 hours.

The rest of the cryptocurrency market was down, with price drops ranging from two to three percent typical in the top ten. IOTA was the outlier, dropping nine percent as its Qubic project was unveiled to apparent investor disdain.

Bitcoin market highlights for the 24 hours ending July 6, 2018 at 1:00 pm US Eastern Time

The highest price seen was $7,020.85 on the DigiFinex exchange at 1:01 pm yesterday. DigiFinex saw $40,542,800 of bitcoin change hands.

The lowest price seen was $6,437.60 on Simex’s exchange at 3:31 am today. Simex’s 24 hour volume was $44,192,900.

The average price on the surveyed exchanges, as weighed by volume, was $6,598.77.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 45.6. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 14 different exchanges. It includes only BTC/USD trades and only on those exchanges that had at least 1% of the total volume of BTC/USD trades during the measurement period.