Bitcoin Perpetual Futures Hit $48K on Binance
- Date: 26-Jul-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Bitcoin Perpetual Futures Hit $48K on Binance
Binance-based bitcoin perpetual futures denominated in dollar-backed stablecoin tether (USDT) spiked early Monday, widening the spread over the spot market price to more than $8,000.
The BTC/USDT perpetual contract hit a high of $48,168 at around 01:00 UTC, Binance data show. Around the same time, bitcoin jumped almost $3,000 in the spot market, reaching a 1 1/2-month high of $39,544, according to CoinDesk 20 data. The cryptocurrency looked poised for a rally, having toppled the widely-tracked 50-day moving average (MA) resistance at $35,000 during overnight trading.
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