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Bitcoin futures suffer a decline in the New York market

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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 futures suffer a decline in the New York market

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 latest reports on the New York market suggest a decline in BTC main contract of CME Bitcoin futures, indicating a loss of 4.08% from the late afternoon of Thursday. The intraday trading in the range of $24365-22965 overwhelmed the hopes of investors as it descended about 7.00% this week. Likewise, the DCR main contract of CME Ether futures was down 2.89% from Thursday, and the intraday trading was between US $1673.50-1581.50, which was down approximately 5.70% this week.

The decline in the prices of cryptocurrencies has become a cause for concern among investors in the market. Despite the surge in prices over the past few weeks, the latest dip has indicated a correction that the market may face in the upcoming days. The downtrend in the market may result from the sudden rise in value of BTC earlier this week, reaching a peak of $58330.57, which led to a sell-off among investors.

The coronavirus pandemic has also impacted the world economy, leading to instability in the market. Many investors have been looking towards cryptocurrencies as a safe haven and a potential hedge against inflation, but the latest events seem to contradict this perspective.

The example of BTC and DCR suggests that the trend is not specific to one cryptocurrency alone but affects the market as a whole. The price of Ether has also been falling due to the current market sentiment, indicating a need for investors to monitor the market closely and be cautious in their dealings.

In conclusion, the latest trends in the market indicate a decline in BTC and DCR, prompting investors to exercise caution while trading. The challenging economic conditions have contributed to the instability of the market, leading to a decrease in cryptocurrency values. While the market may seem unpredictable at times, experts advise to keep an eye on the market trends and make informed decisions.

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