The Bitcoin price has risen to over $45,900 in the last few hours, an increase of 7.5% in the last 24 hours. These are the three main reasons:<\/p>\n
The recent surge in Bitcoin’s price was predominantly led by activities on the Chicago Mercantile Exchange (CME). At a point, the Bitcoin price on CME was approximately $1,400 higher than on Coinbase, indicating significant buying pressure on this platform.<\/p>\n
The CME Group, a renowned exchange for cash settled Bitcoin futures<\/a> contracts, attracts a substantial institutional investor base, making its price movements particularly noteworthy. Analyst Will Clemente highlighted<\/a> the unusual trading activity, stating via X, \u201cCME trading at fresh 52-week highs on an illiquid Monday night like someone knows something.\u201d<\/p>\n