Bitcoin (BTC) fell beneath $10,000 once more on Feb. 24 after a gap in CME's futures trading implied downward pressure should characterize the get-go of the new week.

Cryptocurrency market daily overview

Cryptocurrency market daily overview. Source: Coin360

BTC gives upward $10K… again

Information from Coin360 and Cointelegraph Markets showed BTC/USD quickly lost three% every bit Monday trading began. On Sunday, the pair had briefly managed to reclaim the $10,000 landmark.

Afterward, local lows of $nine,690 gave mode to back up above $ix,700, with Bitcoin sitting at around $9,720 equally of press time.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Coin360

Traders' attention broadly focused on futures, these having previously dictated Bitcoin price movements with increasing accuracy. Concluding calendar week's session closed at effectually $9,740, $250 lower than this week's open.

The calendar week prior, a considerably larger gap had appeared over the weekend — $500 betwixt $10,495 and $9,990. Markets but partially filled the resulting vacuum with upside activity earlier an sharp autumn to $9,700.

On Feb. 20, meanwhile, CME revealed that open interest in its futures products had hit an all-time high of 6,512 contracts — equal to 32,560 BTC ($316.three one thousand thousand).

"Nosotros also reached a new record of large open interest holders on February 11, now 59," the company reported on social media at the time.

Overall, exchange-based futures still hold the lion'due south share of open interest, with derivatives giant BitMEX's product alone generating almost $1.5 billion as of this calendar week, according to data from Skew Markets.

Altcoin progress fades

Altcoins saw broadly heavier losses than Bitcoin equally markets brutal, with upwardly to v% disappearing from the top 20 cryptocurrencies by market cap.

Leading the lackluster operation was Tezos (XTZ), a money that had previously seen uncharacteristically strong gains over a period of several weeks. 24-hour losses totaled seven.6% at press fourth dimension.

Ether (ETH), the largest altcoin, barbarous by a more pocket-size one.vii% to trade at $266.50.

Ether 7-day price chart

Ether vii-mean solar day cost chart. Source: Coin360

The overall cryptocurrency marketplace cap was $282.4 billion, with Bitcoin's share yet circling multi-month lows of 62.8%.

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