Chicago Mercantile Exchange halts trading, sparking public outcry

Vince Quill 1 minute ago Chicago Mercantile Exchange halts trading, sparking public outcry Trading was halted for about 10 hours before being restored on Friday, sparking a public backlash from derivatives and commodities traders. Listen 0:00 News COINTELEGRAPH IN YOUR SOCIAL FEED The Chicago Mercantile Exchange (CME), the world’s largest financial derivatives exchange, halted trading for about 10 hours from Thursday into Friday, causing an outcry from traders before service was restored. Trading halted due to a “cooling issue” at the CyrusOne data center in Illinois, a US state, according to an announcement from the CME. Trading was fully restored, and trading for all markets resumed at 1:30 pm UTC on Friday, the CME said in an update . Source: CME Group Meanwhile, traders voiced their discontent with the critical failure, which locked some users in their positions, prevented others from placing new trades, and halted price discovery. Stock trader Timothy Bozman accused the CME of market manipulation and asked how “a simple issue could take down CME’s entire futures platform?” Source: Timothy Bozman “Very convenient that this happens in Asia on Thanksgiving Day, when there’s already low volume. Sounds like you’re trying to manipulate the markets quickly in a certain direction,” another X user said . The backlash from traders continued even after the issue was fixed, with many saying that trading halted minutes before silver futures contracts hit an all-time high of $54, further fueling speculations. Related: What Bitcoin CME gaps are and how they influence price movements Bitcoin futures contracts continue to climb after market halt The CME does not publish regular trading data for Thanksgiving Day, which occurred on Thursday this year. However, Bitcoin futures contracts closed on Wednesday at $90,355 and opened at $90,940 on Friday, according to data from TradingView. Bitcoin futures prices continued to climb on Friday, rising to over $93,000 at the time of this writing, as BTC rebounds from the local bottom of $80,522. Bitcoin futures rebound from the recent low. Source: TradingView Analysts say BTC faces resistance at $95,000 , but if the cryptocurrency can reclaim $95,000 as support, it could bounce back into the $100,000 territory. The recent dip to just over $80,000 marked the market's lowest point , according to investor and analyst Arthur Hayes, who said that easing liquidity conditions will take BTC to higher levels in 2026, warning that another short-term drop might also occur in the meantime. Magazine: Stop piling into leveraged Bitcoin ETFs and consider this instead # Business # Derivatives # Financial Derivatives # CME Add reaction