CME Bitcoin futures hit $100,000 for the second time in a week, and the market is paying attention to the spot price following the trend

PANews reported on November 30 that according to Cointelegraph, the Chicago Mercantile Exchange (CME) Bitcoin futures price broke through the milestone for the second time yesterday after it first hit $100,000 on November 22. The spot price of Bitcoin has not yet reached $100,000. Analysts believe that this trend may drive the spot price to follow up. Data also shows that CME's Bitcoin futures open contracts exceeded 40,000. As of the Thanksgiving holiday on November 28, the CME Bitcoin futures trading volume was $12.3 billion. Due to the strong spot buying on Coinbase during the Thanksgiving holiday, the price difference between the BTC/USD price and the Bitcoin spot price on Binance (or "Coinbase premium") has exceeded $200.

Furthermore, CoinGlass data suggests that bulls need to push Bitcoin’s price to $99,000 to trigger the next round of liquidation cascades, thereby generating the power needed to push BTC spot prices above $100,000.