Analyst Explains Bitcoin Futures’ Relationship With BTC’s Price

Joe McCann, a widely-followed cryptocurrency trader and analyst, has stated that the “recent breakout” for Bitcoin ( BTC ), the world’s most dominant cryptocurrency, “feels very real” to him.

McCann noted in a detailed tweetstorm that he used Bitcoin futures trading data to arrive at his conclusion, or present outlook regarding BTC’s future performance. Going on to reference a chart which shows the “past 36 hours” of a “1-minute snapshot of the price of BTC,” McCann questioned Bitcoin’s recent price movements with respect to BTC futures contracts that expire in September of 2019: