The Bitcoin price has risen to over $45,900 in the last few hours, an increase of 7.5% in the last 24 hours. These are the three main reasons: #1 Massive Bid From CME The recent surge in Bitcoin’s price was predominantly led by activities on the Chicago Mercantile Exchange (CME). At a point, the Bitcoin price on CME was approximately $1,400 higher than on Coinbase, indicating significant buying pressure on this platform. The CME Group, a renowned exchange for cash settled Bitcoin futures contracts, attracts a substantial institutional investor base, making its price movements particularly noteworthy. Analyst Will Clemente highlighted the unusual trading activity, stating via X, “CME trading at fresh 52-week highs on an illiquid Monday night like someone knows something.” Related Reading: Bitcoin’s 2024 Forecast: From $60,000 To $500,000, Top Experts Share Bold Predictions Supporting this observation, analyst @MacnBTC remarked, “Something obviously leaking as CME is up +8.5% on the day.” Bluntz Capital echoed similar sentiments, noting, “CME tradfi apes are aping, huge premium.” CME tradfi apes are aping, huge premium pic.twitter.com/dwfW0shLB7 — Bluntz (@Bluntz_Capital) January 2, 2024 #2 Spot Bitcoin ETF A ..
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