Bitcoin Price: $10K Holds for Now as 50% of CME Futures Set to Expire

Bitcoin price was still testing support at $10,000 on Aug. 27 as all eyes began focusing on the upcoming futures expiration set for Friday.

Bitcoin remains down around 6% versus the same time last week, having reversed all but 6% of its monthly gains which briefly saw the largest cryptocurrency pass $12,000.

Now, commentators expect Friday's CME futures expiration to impact on markets.

As Cointelegraph reported, futures expiration tends to spark volatility for Bitcoin, but different events have historically behaved in different ways.

Others also highlighted the correlation between futures and market activity.

Bitcoin's solid network data would serve as a reminder that the cryptocurrency is an increasingly safe bet.

On Monday, Cointelegraph noted alternative explanations for current Bitcoin price behavior.

As BTC/USD fell, so too did the majority of major tokens, with Binance Coin faring worst after shedding 5.7%. Ether, the largest altcoin by market cap, broadly matched Bitcoin's 2.6% dip, while XRP and Litecoin managed to stem their losses.

Bitcoin SV fell 4.4%, so far avoiding concerns it could suffer as a result of its main proponent, Craig Wright, losing a giant $5 billion court case this week.

The overall cryptocurrency market cap stood at $263 billion on Tuesday, with Bitcoin's share totalling 68.9%.Keep track of top crypto markets in real time here.