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Join WhatsApp channelBitcoin’s milestone $100,000 price on CME Futures highlights growing institutional interest, while the spot price remains below its peak.
On November 29, Bitcoin’s CME Futures price surged to $100,085 during early trading hours, as per TradingView data. Despite this, the spot price for Bitcoin hovered at $98,285, notably below its all-time high (ATH) of $99,645 reached on November 22. After touching its ATH, the spot price retraced to $91,000, prompting analysts to speculate on a “BTC cool-down.”
Futures Data Signals Potential Upside
The spike in CME Bitcoin Futures reflects strong market sentiment. Data from Coinglass reveals that open interest in Bitcoin futures has skyrocketed, reaching $61 billion—a 50% increase in just over a month. This surge has fueled debates about whether the market is on the brink of another rally or poised for a correction.
Institutional players and sovereign entities have intensified their Bitcoin accumulation. MicroStrategy, a leading corporate Bitcoin investor, now holds an estimated $35 billion worth of BTC. Other firms, including SOS Limited and Metaplanet, have joined the trend, collectively investing millions in the cryptocurrency.
Governments Eye Bitcoin Reserves
Bitcoin’s prominence extends beyond corporate treasuries, as national governments increasingly explore its strategic value. The United States, already the largest sovereign Bitcoin holder, may expand its reserves under policies considered during the Trump administration. Reports indicate Trump’s transition team evaluated a “crypto council” to oversee potential Bitcoin acquisitions.
Meanwhile, U.S. Senator Cynthia Lummis has proposed a bold plan for the government to purchase one million BTC over five years, underscoring Bitcoin’s growing role in geopolitics. El Salvador, an early adopter of Bitcoin as legal tender, has amassed $500 million worth of BTC since 2020, inspiring countries like Brazil and regions such as Vancouver, Canada, to explore similar initiatives. Switzerland, too, has initiated studies into leveraging Bitcoin for its national power grid optimization.
Market Outlook
While Bitcoin Futures breaching $100,000 is a bullish signal, the divergence between futures and spot prices raises questions about market sustainability. With institutional and sovereign participation ramping up, Bitcoin’s trajectory could reshape both financial markets and geopolitical strategies.
