A futures contract is a legal contract to buy or sell the underlying asset at a predetermined price at a specified future date, called the expiry date. Usually, futures markets are in contango, a term used to describe when the price of futures rises above spot, with further-out futures drawing higher than nearer-expiration futures. An increase in buying pressure often causes the contango to widen.
Source: https://www.coindesk.com/markets/2023/11/28/cme-listed-bitcoin-ether-futures-flash-a-rare-bullish-signal/?utm_medium=referral&utm_source=rss&utm_campaign=headlines