Bitcoin's run-up accelerates in June
Bitcoin's spot price rose more than $11,300, or 4.2%, by midday trading Tuesday, while futures contracts on the cryptocurrency issued by CME Group rose accordingly. The average 10-day spread between the spot price and the active contract, or the contract closest to its settlement date, was about $48.
Monday's rise above $11,000 marks the first time bitcoin has surpassed that valuation since March 2018, and current futures contract prices suggest investors don't see it as an anomaly. However, futures prices have caught up to spot prices, as the spot spread as of midday Tuesday was about $63, down from $88 at Monday's close.