Bitcoin consolidates gains after record-setting rally above $6400

• CME announced its plan to launch of futures for digital currency at the end of the year.
• Bitcoin jumped to a fresh all-time high at $6429.

The BTC/USD pair recorded a $200 rise on Tuesday after the derivatives marketplace operator CME Group decided to include digital currencies in their futures operations. "Given increasing client interest in the evolving cryptocurrency markets, we have decided to introduce a bitcoin futures contract. As the world's largest regulated FX marketplace, CME Group is the natural home for this new vehicle that will provide investors with transparency, price discovery and risk transfer capabilities, "Terry Duffy, CME Group chairman and CEO, said in a published statement.

However, the launch still depends on U.S. regulators' approval, which has created headwinds for the inclusion of cryptocurrencies in derivative markets. Commenting on Tuesday's price action, "today's climb also represents a gain of more than $200 in 24-hour trading, per data from the BPI, bringing bitcoin's market capitalization to roughly $106 billion," coindesk.com author Stan Higgins wrote in a recent article.

Technical levels to consider

A decisive push through $6430 (record high) could open the door towards the next psychological resistance at $7000. On the downside, supports could be seen at $6100 (daily low), $5650 (Oct. 29 low) and $5000 (psychological level).