Bitcoin (BTC) Touches $100,000 on CME Futures Platform During Thanksgiving

TradingView data tracking Bitcoin (BTC) CME Futures showed that the largest cryptocurrency crossed $100,085 on the derivatives marketplace during the late

Bitcoin (BTC) price briefly touched $100,000 on the CME Futures platform on Nov. 29 while the token’s spot price remained lower at around $98,000.

The development comes as BTC price continues to surge following its all-time high of $99,645 on Nov. 22. The subsequent pullback to $91,000 after hitting ATH prompted experts to comment on a “BTC cool-down.”

However, the new data from CME Futures suggests that Bitcoin could reach new peaks sooner than expected.

According to TradingView, BTC price hit $100,085 on CME Futures at 11:10 AM ET on Nov. 29.

At the same time, BTC price on Binance was trading at $98,285, down by less than 1% over the past 24 hours.

A Coinglass analysis also noted that BTC Futures open interest surged to $61 billion at the time of writing.

The open interest rose by 50% in just over a month, which sparked debates over whether the market will correct or continue surging.

In related news, institutions and national authorities appeared to be vying to acquire Bitcoin for their corporate treasuries and government reserves.

MicroStrategy led the private firm caucus, boasting around $35 billion in BTC holdings. Firms like SOS Limited and Metaplanet followed suit, allocating millions of dollars toward buying BTC.

The U.S. remained the largest sovereign BTC holder, and the country under President Donald Trump could increase its crypto war chest.

Trump’s transition team eyed personnel for a crypto council that might realize his BTC stockpile promise.

Senator Cynthia Lummis from Wyoming also submitted a bill to buy one million BTC over five years as Bitcoin became increasingly woven into the fabric of geopolitical discussions.

More countries like Brazil and jurisdictions like Vancouver in Canada sought to follow in the footsteps of El Salvador, which has owned around $500 million in BTC since its first buy in 2020. Switzerland also passed legislation to study how BTC could bolster its power grid.