Bitcoin (XBT) futures on the Chicago Board Option Exchange (CBOE), expired on the 16th January 2019 at its lowest level, since inception on the 10th December 2017. Trading under ticker XBT/F9 on the CBOE, the final settlement price was $3,591.30. This comes to no surprise with the current trend of backwardation the decentralised asset is exhibiting;
The data is showing that contracts with a later expiration are trading consecutively lower. However, when observing the Relative Strength Index (RSI), the sell off that was seen throughout December 2018 has diminished. We may have found a bottom finally!
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