CME Topples Binance as Top Bitcoin Futures Exchange as Crypto ETF Excitement Soars

CME's rise to the top rank highlights the growing institutional demand for bitcoin, as the venue is almost exclusively used by large traditional financial institutions, one analyst noted.

Timeline of Bitcoin

The crypto prices today were in the green on Friday, November 10, despite Fed Chair Jerome Powell's warning of raising the interest rate further to tame inflation. Meanwhile, it seems that the market has shrugged off concerns over a potential rate hike by the U.S. Central Bank to bring down the inflation to their 2%

Major cryptocurrencies were seen trading mixed on Thursday evening with Ethereum (ETH) stealing the spotlight from Bitcoin (BTC) in terms of gains as BlackRock Inc's filing for a spot Ether ETF garnered investor attention. Ethereum was trading significantly above the $2,000 mark at $2,110.40 at the time of publishing — for the day it rose nearly 11% outpacing Bitcoin's 2.1% gains in the period.

As Bitcoin's value surges to an 18-month high of $37,000, marking a stellar year-to-date climb of over 100%, top Bitcoin miners have made a striking move. Significantly, they sold 5,492 Bitcoin, cashing out around $164 million.

Kaspa (KAS), a proof-of-work cryptocurrency employing the GHOSTDAG protocol, has experienced a notable surge in market activity and investor interest over the past few months. The token's recent listing on Coinone, one of South Korea's leading cryptocurrency exchanges, has significantly propelled Kaspa into the top 33 cryptocurrencies based on market capitalization.

A widely followed crypto analyst thinks Bitcoin (BTC) could reach $50,000 sometime before April 2024. Crypto trader Michaël van de Poppe tells his 671,300 followers on the social media platform X that he expects the king crypto to make a major move up pre-halving before correcting back to current levels.

Bitcoin price to $50k next? Optimism surrounding the potential approval of the first Bitcoin spot ETF is fueling the bullish outlook that has seen BTC price rise to tap a new 2023 high at $38,000.

German Parliamentarian Joana Cotar spoke out against introducing a Euro-based central bank digital currency (CBDC), claiming that “no one needs it.” Cotar stated in a speech on Nov. 9 that the ECB and politicians backing a digital euro are doing so because they want total surveillance of the monetary system.

Transaction fees within the Bitcoin network have surged considerably, eclipsing the figures recorded merely three days prior. A transfer deemed high-priority, which formerly cost an average of $3.38, now demands a fee of $8.46. This significant increase was recorded on Thursday, November 9, 2023, at precisely 9:52 a.m. Eastern Time.

Bitcoin miner Marathon Digital Holdings has reported a substantial increase in revenue, marking a 670% rise year-on-year in the third quarter of 2023. This remarkable growth is attributed to a significant uptick in Bitcoin (BTC) production, which increased from 6.

Charles Edwards, macro Bitcoin (BTC) analyst and author of popular Bitcoin Energy Value Model chart, shares his estimations of the two most crucial levels for the largest cryptocurrency. His optimism echoes the positive market sentiment, data shows.