- Chicago Mercantile Exchange halted trading for about 10 hours due to a cooling system failure.
- Trading resumed at 1:30 pm UTC on Friday after the issue was resolved.
- Traders criticized the timing and impact of the halt, linking it to market disruption concerns.
- Bitcoin futures prices on the exchange rose above $93,000 following the trading resumption.
The Chicago Mercantile Exchange (CME) stopped all trading for roughly 10 hours from Thursday into Friday because of a cooling issue at the CyrusOne data center in Illinois. This incident caused frustration among traders who could not enter or exit positions during the outage. The CME announced that all markets were back online by 1:30 pm UTC on Friday, according to an official update.
Some traders expressed suspicion over the situation. Stock trader Timothy Bozman questioned how a single technical problem could disable the entire futures platform, accusing the exchange of potential market manipulation, as seen in his statement. Another user commented on the coincidence of the failure occurring during Thanksgiving Day in Asia, when trading volumes are low, suggesting it was an attempt to influence markets quickly (source: X). The criticism intensified after the suspension, with several noting the trading halt happened shortly before silver futures reached an all-time high of $54, raising more speculation.
Bitcoin futures contracts on CME did not trade on Thanksgiving Day, but closed Wednesday at $90,355 and reopened Friday at $90,940, according to TradingView. Prices continued increasing after the resumption, climbing past $93,000 as BTC recovered from a recent bottom near $80,520. Analysts indicate resistance near $95,000, with the potential for gains above $100,000 if that level is surpassed. Investor Arthur Hayes noted that easing liquidity conditions could take BTC higher in 2026, while also cautioning about possible short-term declines, as shown in his comment.
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