Hong Kong to enhance digital asset regulation in 18 months

By establishing a comprehensive regulatory framework, the city aims to attract global fintech talent, foster innovation, and ensure the security and integrity of digital asset transactions.

View Details

Bitcoin late longs washed out as BTC price falls to $65K

Bitcoin leveraged positions increased over the past week, and a portion of these late longs have been wiped out as BTC price dropped closer to $65,000.

View Details

Record $39.4B Bitcoin open interest suggests imminent price breakout

Open interest is often used to gauge the interest and liquidity behind an asset. In Bitcoins case, the surge in open interest could signal an imminent breakout.

View Details

Bitcoin price could hit $63K amid $3.9B futures expiry

Bitcoin needs to hold above the $65,000 mark for more upside, while the Ether price is weighed down by a sell-the-news event, according to analysts.

View Details

Hong Kong to launch Asias first inverse Bitcoin ETF

CSOPs new inverse Bitcoin ETF aims to profit from BTC price declines following their successful 2022 launch of the firms Bitcoin Futures ETF.

View Details

BitMEX to List New XBTQ24 Bitcoin-Margined Futures Contract

BitMEX announces the listing of a new XBTQ24 futures contract, margined in Bitcoin, set to go live on June 25, 2024. (Read More)

View Details

Calls dominate Bitcoin options despite price drop and ETF outflows

While the usual volatility has been absent from the derivatives market, the slight fluctuations seen in the past few days still managed to reveal subtle market trends. Between June 12 and June 14, Bitcoin options open interest increased $20.85 billion on June 12 to $21.91 billion on June 13, before decreasing to $21.42 billion on […]

The post Calls dominate Bitcoin options despite price drop and ETF outflows appeared first on CryptoSlate.

View Details

Bitcoin Stuck: Here Are 2 Things That Must Happen For BTC To Break $72,000

At spot rates, Bitcoin is firm, but traders doubt the uptrend following the unexpected dump on June 11. Currently, Bitcoin is stable, trending above $67,000 and down despite gains on June 12. Still, even at this level, there are concerns because the coin, despite all the confidence across the board, remains below $72,000. This reaction line is emerging as a key liquidation area. If broken, BTC could unleash a wave of short liquidation, accelerating the lift-off to $74,000 and beyond. Will Bitcoin Demand Soar In Spot Markets? Taking to X, one on-chain analyst said that Bitcoin is stagnating at spot levels below $72,000 because hedge funds are short on futures. Related Reading: Solana On-Chain Indicators Suggests A Return Of Bullish Sentiment, Is It Time To Buy SOL? Though this has been a known development for a while, hedge funds have stacked their BTC shorts via the Chicago Mercantile Exchange (CME) by over $1 billion in the last week alone. Therefore, the analyst says two things must happen to reverse this effect and support prices. Although the BTC shorting on CME is not necessarily a bearish signal, hedge funds are hedging by playing a sophisticated arbitrate strategy, and coin holders must look at fundamentals. Hedge funds are simultaneously shorting BTC futures on CME and buying on the spot market. Therefore, for the coin to break $72,000 and pierce $74,000, the analyst said users must buy at least 2X the amount of BTC futures shorted in the spot market. BTC Prices Must Fall For Short Sellers To Exit If there is no incentive to lift spot prices higher, then Bitcoin prices must fall. Falling prices will encourage short sellers, in this case, the hedge funds, to exit their positions lest they continue paying funding rates. In a bearish market, and when futures prices begin to fall, short sellers must pay longs for the index not to deviate. Whether there will be a spike in demand in the spot market remains to be seen. However, what’s evident is that institutional interest in Bitcoin is there, only that hedge funds, as seen from their arbitrage trade using CME, want to profit, regardless of price movements. Related Reading: Dogecoin Under Pressure And Going To Zero, Analyst Says Heres Why The analyst also shared another chart to solidify the bullish outlook. The trader used the “Growth Rate” metric to compare changes in Bitcoin’s market and realized cap. Currently, the metric is at around 0.001, way below 0.002, meaning the market is highly likely overheated. Bulls might be preparing to make a comeback. Feature image from DALLE, chart from TradingView

View Details

Derivatives saw spike in Open Interest and volume as Bitcoin broke $66k

Bitcoin regained the $66,000 level in the night between May 15 and May 16, recovering some of the losses it incurred in the past week. This spike substantially impacted the derivatives market, significantly influencing both open interest and trading volume. Futures open interest, which indicates the total value of outstanding futures contracts yet to be settled, […]

The post Derivatives saw spike in Open Interest and volume as Bitcoin broke $66k appeared first on CryptoSlate.

View Details

Binance Futures Volume Soars Past $1T: Is Leverage Fueling the Crypto Rally?

While Binance leads with record derivatives volume, OKX and Bybit also see massive spikes, signaling a market-wide leverage boom.

View Details

Bearish tilt in Bitcoin futures as open interest contracts

Analyzing the ebb and flow of futures contracts across exchanges can provide invaluable insights into the market’s collective outlook. The state of open interest in Bitcoin futures and the ratio between long and short positions can help us determine whether the market is bullish or bearish and anticipate potential price movements. Over the course of […]

The post Bearish tilt in Bitcoin futures as open interest contracts appeared first on CryptoSlate.

View Details

Bitcoin Futures Market Attracts Unprecedented Open Interest as Derivatives Appetite Grows

The latest bitcoin derivatives data indicates a continued climb in bitcoin futures open interest, hitting all-time peaks. Over the last day, statistics reveal an open interest of $32.30 billion across fourteen distinct bitcoin futures markets. Soaring Open Interest in BTC Futures Signals Growing Derivatives Market Friday, March 8, 2024, marked a notable day when BTC [...]

The post Bitcoin Futures Market Attracts Unprecedented Open Interest as Derivatives Appetite Grows  appeared first on Crypto Breaking News.

View Details

Bitcoin Price Suffers Bearish Deviation After Filling CME Gap, Is This Good Or Bad?

The Bitcoin price is struggling to recover from recent declines, as the market downtrend has kept it significantly below the $100,000 mark. Amidst this volatility, Bitcoin is experiencing a bearish deviation that is filling a new Chicago Mercantile (CME) Gap. This has triggered a fresh prediction from a crypto analyst who believes that the pioneer cryptocurrency is set for a higher high. Bitcoin Price To Form Higher Low As CME Gap Fills Crypto analyst Rekt Capital took to X (formerly Twitter) on Monday to share his projected outlook for the Bitcoin price. The analyst highlighted that Bitcoin is currently undergoing a bearish deviation, which is filling a massive gap on the CME futures chart. Related Reading: Crypto Pundit Who Correctly Called The Bitcoin Price Surge From $15,400 To $100,000 Reveals Whats Next CME gaps are disparities between closing and opening prices in the Bitcoin futures market. They appear when Bitcoins price moves as the exchanges close over the weekend and reopen on weekdays. Over the past few days, Bitcoin has been filling its new CME gap amidst the broader market downturn. This downward move was expected, as the Bitcoin price often gravitates toward unfilled CME gaps before resuming regular activity. Despite Bitcoins present bearish deviation, Rekt Capital believes that the downtrend could present an opportunity for the market to form new higher lows. The analyst shared two charts, with one revealing several resistance and support zones for the Bitcoin price. The orange and yellow boxes in the chart suggest strong support areas where Bitcoin has historically bounced, while the blue boxes highlight past resistance areas. In the second chart, Rekt Capital showcases repeated breakout patterns, where BTC consolidates and then initiates a surge. If the cryptocurrency can make the expected higher low above last weeks low, this could confirm that Bitcoins broader uptrend may still be intact. Conversely, if it fails to hold above support levels and declines again, the market may see a more resounding crash, potentially triggering sell-offs and exacerbating the bearish trend.  Analyst Foresees A Move Towards $95,000 Not too long ago, Bitcoin shocked the market, skyrocketing by more than 9% in one day and surging back above the $90,000 mark. According to X crypto analyst Jelle, this massive price surge was the higher low the market was anticipating. Related Reading: Analyst Reveals When Bitcoin Price Will Reach $180,000 The analyst suggests that the surge has paved the way for BTC to build a more solid base and slowly make its way toward the $95,000 mark. While the price of BTC currently trades at $87,596 and faces bearish pressures that have triggered multiple price crashes, Jelle believes that the cryptocurrency can overturn bearish conditions and initiate a recovery.  As of this writing, it appears Bitcoin may be slowly recovering from the bears. The cryptocurrency has surged by 5.3% in one day, and its market capitalization is also up by the same amount despite its declining trading volume. Featured image from Unsplash, chart from Tradingview.com

View Details

Bitcoin Futures Data Shows Bullish Long/Short Ratio Details

Bitcoin continues to trade within a tight range, consolidating below the $85,000 mark and holding above the $81,000 support zone. Bulls are making efforts to reclaim higher levels and spark a recovery rally, but persistent macroeconomic uncertainty and growing concerns over global trade tensions continue to weigh on market sentiment. Related Reading: Whales Accumulate Over 120 Million Dogecoin In Past Week Analyst The lack of momentum in either direction has left Bitcoin range-bound for the past several sessions. However, optimism remains among futures traders. According to recent data, 60.52% of traders with open Bitcoin positions on Binance Futures are currently holding long positions, suggesting a majority still believe in an upside breakout. This bullish leaning among leveraged traders highlights growing expectations that Bitcoin could recover once broader market sentiment improves. Still, the consolidation pattern remains in place until BTC can break decisively above the $85K level and target $88K or higher. If bulls fail to reclaim resistance soon, the risk of a breakdown below $81K increases, potentially triggering a deeper correction. As uncertainty dominates headlines, Bitcoin remains at a crossroads, and traders continue to watch closely for a catalyst to drive the next major move. Bitcoin Investors Split On Market Direction As Long Positions Dominate Futures After months of volatility and a sharp correction from Bitcoin’s January all-time high, some market participants are preparing for a prolonged bear market. Sentiment among this group is driven by persistent macroeconomic uncertainty, erratic global policy shifts, and rising concerns of recession, all of which have shaken confidence across both crypto and traditional markets. However, a more optimistic view persists among analysts who argue that the current price action is simply a healthy correction within a larger bull cycle. They believe that Bitcoin is undergoing a standard consolidation phase following its parabolic move in late 2024. The structural fundamentals supporting Bitcoinincluding growing institutional interest and broader adoptionremain intact. Supporting this view, top analyst Ali Martinez shared a key metric on X: the Bitcoin Long/Short Ratio on Binance Futures. Martinez revealed that 60.52% of traders with open BTC positions are currently leaning long, signaling a bullish sentiment among futures traders. This bullish skew in leveraged positions suggests that a potential breakout may be on the horizon. If bulls can reclaim resistance levels near $88K and push above the $90K mark, it could confirm the start of a recovery rally and help restore confidence. Related Reading: Cardano Indicator Flashes Buy Signal On 4-Hour Chart Rebound Ahead? Until then, indecision continues to dominate the market, and Bitcoin remains trapped in a tight range where both scenariosa deeper correction or a bullish breakoutremain on the table. BTC Price Range Narrows As Key Resistance Holds Strong Bitcoin (BTC) is trading at $84,200 after several days of tight consolidation between the $87,000 resistance and the $81,000 support level. Despite recent attempts to push higher, bulls have struggled to break through key resistance, leaving the price range bound and vulnerable to sudden volatility. Currently, BTC sits approximately 4% below the 4-hour 200-day Moving Average (MA) and Exponential Moving Average (EMA). These indicators, now acting as dynamic resistance around $87,300, are widely watched by traders as crucial short-term trend signals. Reclaiming this zone as support could be the catalyst for a recovery rally toward the $90,000 mark, helping shift sentiment back in favor of the bulls. Related Reading: Investors Withdraw 360,000 Ethereum From Exchanges In Just 48 Hours Accumulation Trend? However, the failure to break above this technical ceiling raises concerns. If price action remains weak and fails to retake the 200 MA and EMA in the coming sessions, the likelihood of a drop below the $81,000 support increases. Such a move would not only trigger fresh selling pressure but could also send BTC into deeper correction territory. Featured image from Dall-E, chart from TradingView

View Details

Bloomberg Strategist Sees Bitcoin as Global Alternative Currency Warns Stock Market Drawdown Could Impact BTC

Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, says bitcoin is “becoming an alternative currency on a global basis,” noting that “The world’s going towards intangible assets and bitcoin is the most significant in cryptos.” However, the strategist warned that as bitcoin’s price approaches $70,000, a key test for the cryptocurrency may come “when the U.S. [...]

The post Bloomberg Strategist Sees Bitcoin as Global Alternative Currency Warns Stock Market Drawdown Could Impact BTC appeared first on Crypto Breaking News.

View Details

Bitcoin Resets With 14% DeleveragingHeres What Past Events Led To

Data shows the Bitcoin futures market has seen a massive deleveraging event recently. Here’s what this reset could mean for BTC, based on past trends. Bitcoin Open Interest Has Gone Through A Crash Recently As pointed out by an analyst in a CryptoQuant Quicktake post, the BTC Open Interest has seen a retest recently. The “Open Interest” refers to an indicator that keeps track of the total amount of futures positions related to Bitcoin that are currently open on all derivatives exchanges. Related Reading: Is Bitcoin Peak In? This Data Suggests Otherwise, Analytics Firm Says When the value of this metric rises, it means the investors are opening up more positions on the market. Generally, the total leverage present in the sector goes up when this happens, so this kind of trend can lead to more volatility for the asset. On the other hand, the indicator going down implies the futures users are closing up positions or getting forcibly liquidated by their platform. As leverage decreases following such a trend, the market can act in a more stable manner. Now, here is the chart shared by the analyst, that shows the trend in the Bitcoin Open Interest, as well as its 90-day percentage change, over the last few years: As displayed in the above graph, the Bitcoin Open Interest shot up to a new all-time high (ATH) of $33.6 billion back in January. Interestingly, this peak in the indicator coincided with the ATH in the price itself. As mentioned before, a rise in the Open Interest can lead to volatility for the cryptocurrency. The reason behind this lies in the fact that a mass liquidation event, popularly known as a squeeze, can become more probable to occur when the market is overleveraged. In such an event, a sharp swing in the price triggers a large amount of simultaneous liquidations, which end up acting as fuel for the move itself, thus elongating its length. This unleashes a cascade of further liquidations. The volatility emerging out of an increase in the Open Interest can, in theory, take Bitcoin in either direction. During the earlier bull rally, the Open Interest increase was accompanied by bullish momentum. From the chart, it’s visible, however, that the indicator reached a turning point around the time of the aforementioned peak. As bearish momentum took over Bitcoin following the ATH, it was now the turn of the bulls to get liquidated. The massive long squeezes that the price legs down induced helped to further the price decline, explaining its sharpness. Related Reading: Dogecoin Can Still Go Parabolic If This Support Holds, Analyst Says Today, the Open Interest is down to just $23.1 billion, with the indicator’s 90-day change sitting at a notable low of -14%. In the chart, the quant has highlighted the previous deleveraging events where the metric plummeted in a similar manner. “Looking at historical trends, each past deleveraging like this has provided good opportunities for the short to medium term,” notes the analyst. It now remains to be seen whether this cooldown in the futures market will be enough for Bitcoin to see a rebound or not. BTC Price At the time of writing, Bitcoin is trading at around $83,500, up 1% in the last 24 hours. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com

View Details

Surge Alert: Bitcoins Futures Basis Climbs To New Heights, What This Means For BTC

Bitcoin’s futures market is showcasing signs that have historically signalled bullish sentiment. Analysts are turning their attention to the Bitcoin futures basisa metric representing the differential between the futures price of Bitcoin and its spot price. Recent data has revealed that this basis has escalated to unprecedented levels since Bitcoin’s all-time high of $69,000 in November 2021. Related Reading: Bitcoins 2024 Forecast: Analyst Predicts $60,000 Surge Before Halving And New ATH By Q4 Bullish Indications From Bitcoin Futures Deribit’s Chief Commercial Officer, Luuk Strijers, has highlighted the current state of the Bitcoin futures basis, which ranges between 18% to 25% annually, a rate reminiscent of the market conditions in 2021. According to Strijers’s comment, this elevated basis is not just a number but a lucrative opportunity for derivatives traders. By engaging in trades that involve buying Bitcoin in the spot market and simultaneously selling futures contracts at a premium, traders can secure a “dollar gain” that will materialize at the contract’s expiry, irrespective of Bitcoin’s price volatility. Strijers further noted that this strategy is particularly appealing in the current climate, fueled by the influx of new investments following the approval of Bitcoin ETFs and anticipation surrounding the Bitcoin halving event. The significance of the heightened futures basis extends beyond the mechanics of derivatives trading. It further reflects broader market optimism, “bolstered” by recent regulatory approvals and macroeconomic factors influencing cryptocurrency. The disparity between Bitcoin’s spot and futures prices suggests a confident market outlook, propelled by the anticipation of continued investment inflows and the impact of the upcoming Bitcoin halving. Such conditions create a fertile ground for Bitcoin’s value to surge, as historical precedents have often linked bullish futures basis rates with periods of substantial price appreciation. Market Sentiment And Halving Cycles While Bitcoin’s current market performance exhibits a bearish trajectory, with a 3.9% dip bringing its price to $68,203, market analysts advise against interpreting this as a negative signal. Rekt Capital, a respected figure in crypto analysis, views the recent price correction as a “positive adjustment” preceding the much-anticipated Bitcoin halving in April. Halving events, which reduce the block reward for miners, thus slowing the rate of new Bitcoin entering circulation, have traditionally catalyzed significant price rallies due to the resulting supply constraints. Rekt Capital’s analysis parallels current market movements and historical patterns observed in previous halving cycles. Related Reading: The $69,000 Bitcoin Question: Expert Forecasts When Price Will Breakout According to the analyst, despite the swift pace of these cycles, they exhibit a consistent sequence of a pre-halving rally followed by a retracement phaseboth of which align with Bitcoin’s current trajectory. This cyclical perspective suggests that the recent dip is merely a temporary setback, setting the stage for the next bullish phase post-halving. #BTC Though there are signs of BTC experiencing an Accelerated Cycle… History still continues to repeat, nonetheless$BTC broke out into a “Pre-Halving Rally” right on schedule And now, #Bitcoin is transitioning into its “Pre-Halving Retrace” right on schedule#Crypto https://t.co/Egqxs9ritl pic.twitter.com/lj0IdQtBEE Rekt Capital (@rektcapital) March 15, 2024 Featured image from Unsplash, Chart from TradingView

View Details

Futures hold steady while spot Bitcoin trading volume tumbles

Bitcoin saw a drop in trading volume across both the spot and futures markets over the past five days. The decline, which followed a sharp drop in Bitcoin’s price after a week of extreme volatility, was likely driven by a combination of disappointing political developments, macroeconomic tensions, and weekend trading patterns. Data from Checkonchain shows […]

The post Futures hold steady while spot Bitcoin trading volume tumbles appeared first on CryptoSlate.

View Details

Bitcoin Volatility Induces $700 Million Carnage In Crypto Futures

Data shows the cryptocurrency futures market has seen liquidations amounting to $700 million in the past day as Bitcoin has gone through its volatility. Bitcoin Has Seen Intense Price Action In Past 24 Hours The past day has been a bit of a rollercoaster for Bitcoin, with the asset registering sharp price action in both [...]

The post Bitcoin Volatility Induces $700 Million Carnage In Crypto Futures appeared first on Crypto Breaking News.

View Details

CME to Launch Crypto Ratio Futures as Cboe Eyes Fidelity’s Spot BTC ETF

Chicago Mercantile Exchange (CME), one of the world’s largest derivatives marketplaces, plans to launch crypto Ether (ETH)/Bitcoin (BTC) ratio futures on July 31, 2023. This is even as Cboe BZX Exchange, one of four equities exchanges operated by Cboe Global Markets, approached the US securities watchdog on Thursday, requesting permission to list the Wise Origin Bitcoin Trust, according to Reuters.

Top asset manager Fidelity filed the Trust in March 2021 with the Securities and Exchange Commission, seeking to create an exchange-traded fund (ETC) that tracked the price performance of BTC, Finance Magnates reported. However, the SEC rejected the financial services giant's proposal for the spot BTC ETF in January last year.

The ‘BlackRock’ Fever

Cboe’s application to list Fidelity’s fund comes on the heels of resurging interest in cryptocurrency exposure among institutional investors. Following fund manager BlackRock’s proposal to the Securities and Exchange Commission (SEC) two weeks ago, ARK Invest, Fidelity, Invesco and WisdomTree have also sought similar approvals.

Surprisingly, the wave of new applications follows the SEC’s recent crackdown on ‘unregistered’ crypto exchanges in the United States, including Binance and Coinbase. Experts believe that traditional investors are trying to ride on the watchdog’s latest campaign to secure permission for their spot BTC ETF applications previously turned down.

CME Group Expands Crypto Futures Offering

Meanwhile, CME’s planned crypto ratio futures targets BTC and ETH, the two largest cryptocurrencies by market capitalization. Crypto ratio futures are a type of derivative contract that enables traders to bet on the relative price movements of two different digital assets. These contracts are traded on decentralized exchanges such as Binance Futures.

CME in the statement noted that its launch of the contract next month is dependent on regulatory review. It added that the crypto ratio futures will follow the same listing cycle as its BTC/ETH futures contracts.

“The Ether/Bitcoin Ratio futures will be cash-settled to the value of CME Group Ether futures final settlement price, divided by the corresponding CME Group Bitcoin futures final settlement price,” the derivatives exchange further elaborated.

Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products, believes that the ratio futures contracts will give investors the ability to “capture ether and bitcoin exposure in a single trade without needing to take a directional view.”

“This new contract will help create opportunities for a broad array of clients looking to hedge positions or execute other trading strategies, all in an efficient, cost-effective manner,” Vicioso added.

AvaTrade's veteran joins GKFX; Nasdaq welcomes 60 IPOs; read today's news nuggets.

View Details