The CME Bitcoin futures expiration occurred at 11 a.m. Eastern time on Friday. The CME Bitcoin futures expiration has often been correlated with trend shifts in the Bitcoin (BTC) and crypto markets, and the week following the expiration is an important period of time to monitor the crypto markets since the market sentiment of the week following the expiration is a good indicator of the market sentiment for the month to come. The Bitcoin (BTC) and crypto markets have continued to be indecisive following the expiration on Friday, and the market is essentially waiting for Bitcoin (BTC) to make a move.
Over the past 24 hours, Bitcoin (BTC) has been quite volatile, declining from $8,750 yesterday evening to as low as $8,360 this morning. Since then, Bitcoin (BTC) has rebounded a bit and is currently trading near $8,550. The 24-hour change for Bitcoin (BTC) is -1.4%.
The crypto market is mixed and mostly in the red. Ethereum (ETH) is down 2.4%, Bitcoin Cash (BCH) is down 2.7%, Litecoin (LTC) is down 1.5%, EOS is down 5.2%, Binance Coin (BNB) is down 2.5%, Stellar (XLM) is down 1.7%, Monero (XMR) is down 0.7%, Dash (DASH) is down 1.7%, IOTA (MIOTA) is down 3%, Tezos (XTZ) is down 5.4%, NEO is down 4.3%, Zcash (ZEC) is down 0.2%, and Dogecoin (DOGE) is down 2.7%.
Several cryptocurrencies are in the green today, with Bitcoin SV (BSV) and Cosmos (ATOM) rallying. Ripple (XRP) is up 1%, Bitcoin SV (BSV) is up 17%, Tron (TRX) is up 0.1%, Cardano (ADA) is up 1.5%, and Cosmos (ATOM) is up 15.4%.
Over the past 24 hours, the total crypto market cap has declined from $276 billion to $272 billion. Since the CME Bitcoin futures expiration on Friday, the total crypto market cap has gained $5 billion, which is perhaps a bullish sign.
That said, following the CME Bitcoin futures expiration, the crypto market is still waiting for Bitcoin (BTC) to make a decisive move in either direction.