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Bitcoin Climbs as Futures Debut Fails to Incite Attack by Shorts

  • CME derivative broadens market further for digital currency
  • Settlement terms challenge short bets; basis risk seen
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CME Launches Bitcoin Futures

Updated on

The arrival of a new futures contract that makes it easier to place short bets on bitcoin wasn’t enough to undercut the cryptocurrency’s march toward $20,000.

The digital token, up about 20-fold this year, added another 4.8 percent from its New York close on Friday to $18,379 as of 9:24 local time, according to prices on Bloomberg. That was in line with its new contract for January delivery, which at $18,650.