Top Exchange Name Nears Breakout Amid Increasing Bitcoin Volumes
CME Group (CME) shares of the exchange leader show solid relative strength compared to its peers in the exchange group and likely stand to benefit from the year end surge in Bitcoin volumes as it sees tailwinds from Bitcoin and Ethereum ETF’s. CME also just reported average daily volume (ADV) reaching 24.3 million contracts, the second-highest October volume ever and the past week since the election has only increased market volumes so this should be a boost to CME’s bottom line. A breakout above 228 should see continuation to new highs and potentially getting towards 250 by early next year which would eclipse the early 2022 all-time highs.’