Bitcoin eyes for better weekly close, CME futures remain in focus

With a bounce above $42,400, BTC could improve compared to last week, but one expert warns that CME bitcoin futures are key first.

 Bitcoin ( BTC ) has been able to stay above the US$ 42,000 mark so far this Sunday and is also aiming for a slightly stronger weekly close than in the previous week.

Eyes go to the CME

BTC/USD has been relatively stable over the weekend, so there's a good chance there won't be another significant drop in the next few hours.

Previously, Bitcoin briefly dipped below $42,000, but the mark was quickly recaptured, making the previous weekly close at $42,400 the next hurdle to climb by Monday.

Should this succeed, then a three-week high would also be recorded. However, with the difference likely to be only a few hundred dollars at best, the overall picture remains mixed.

Other crypto analysts are looking at completely different numbers, such as Cointelegraph expert Michaël van de Poppe, who sees the resumption of trading in the CME Bitcoin futures on Monday as the most important driver for further price development.

"Don't let the weekend's price action fool you because eventually price will pick up where it left off at Friday's CME close," van de Poppe cautioned .

CME bitcoin futures last priced at $42,390 on Friday, almost right on the previous week's close.

XRP the winner among altcoins

The calm of the market leader is transferred to the altcoins, most of which only make minimal price movements.

Among the top 10, XRP is the clear winner, as the Ripple cryptocurrency has gained more than 6% in the last 24 hours, increasing its weekly gains to over 25%.

The unexpected success comes despite the ongoing legal battle surrounding the crypto project. The process addresses the fundamental question of whether XRP should be classified as a security, which could have far-reaching consequences for the entire market.

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