The Chicago Mercantile Exchange (CME), the world’s largest financial derivatives exchange, halted trading for about 10 hours from Thursday to Friday, causing an outcry among traders before service was restored.
Trading was halted due to a “cooling issue” at the CyrusOne data center in Illinois, a US state, according to a report. announcement of the CME. Trading has been fully restored and trading on all markets resumed at 1:30 p.m. UTC on Friday, the CME said in a statement. update.
Meanwhile, traders expressed their displeasure with the critical failure, which locked some users into their positions, prevented others from making new trades, and interrupted price discovery.
Stock trader Timothy Bozman accused the CME of market manipulation and request how “a single glitch could bring down the entire CME futures platform?” »
“Very convenient that this is happening in Asia on Thanksgiving Day, when volume is already low. Looks like you are trying to manipulate the markets quickly in a certain direction,” another X user. said.
Trader backlash continued even after the issue was resolved, with many adage that trading halted minutes before silver futures hit an all-time high of $54, further fueling speculation.
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Bitcoin Futures Continue to Climb After Market Halt
The CME does not release regular trade data for Thanksgiving Day, which fell on Thursday this year. However, Bitcoin Futures Contracts closed Wednesday at $90,355 and opened at $90,940 Friday, according to TradingView data.
Bitcoin futures prices continued to climb on Friday, reaching over $93,000 at the time of writing, as BTC rebounds from the local low of $80,522.
Analysts say BTC faces resistance at $95,000but if the cryptocurrency can reclaim $95,000 as support, it could bounce back to the $100,000 zone.
The recent drop to just over $80,000 marked the market’s lowest pointaccording 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 decline could also occur in the meantime.
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