Bitcoin futures ended two consecutive declines and came out of the low point in nearly a month, but failed to return to $9,800

On July 18, the main contract of Bitcoin at Chicago Mercantile Exchange (CME) rebounded slightly by $65, ending two consecutive days of decline, but failed to return to $9,800. The previous day it fell below the 9,800 mark, hitting a new low since June 20 this year. Bitcoin futures contracts of other maturities all rose by more than $100 during the day. Last week, the main contract resumed its upward trend, rising by nearly 4%. In the first week of July, that is, the week before, it fell by more than $1,300, a cumulative decline of about 10%, ending the momentum of two consecutive weeks of growth.
The most traded CME Bitcoin futures BTC July contract closed up 0.7% at $9,795, and closed down 10.8% on the 16th at $9,730, with a cumulative increase of more than 3.9% last week. BTC closed at $9,900 in August, and the September and December contracts closed above $9,900 and $10,000 respectively, after falling below $9,800, $9,900 and $10,000 respectively the day before. The spot price of Bitcoin on most cryptocurrency exchanges such as Huobi is above $9,800, with a cumulative increase of nearly 2% in the past 24 hours.