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One CFTC commissioner dissented, calling the action regulation by enforcement.
In today's news feature: is legal Futures Trading coming soon in the Philippines?
Zach Bradford, CEO of Bitcoin (BTC) mining firm CleanSpark, has predicted that the premier cryptocurrency may peak close to $200,000 this cycle. Bradfords Bullish Take On BTC Price In an interview with research and brokerage firm Bernstein, CleanSparks CEO noted that historically, post-halving periods have led to several positive adjustments for BTCs price. It should be recalled that Bitcoin underwent its fourth halving in April 2024, when its block confirmation rewards were slashed from 6.250 BTC to 3.125 BTC. In a note to clients shared today, Bradford remarked: Based on my current analysis, I believe we could see bitcoin peak just under $200,000, sometime in the next 18 months. Thatll likely be a peak. But I do think well see a rapid jump, and then hopefully, an extended elongated period of it being up before we revisit a bear cycle. Related Reading: Historical Trends Put Bitcoin At $400,000 With Shocking Timeline Bradford stressed that he sees Bitcoins extended flat period as a positive sign. It indicates that a sustained rally to the upside may last longer than usual. However, he cautions that this depends on macroeconomic events and other relevant factors. Adding to his comments, Bradford said he expects a considerable push in BTC price post-election through January 2025. Subsequently, this could help Bitcoin miners with efficient cost structures expand their profit margins. Interestingly, the CleanSpark CEO doesnt think its important who wins the US presidential elections in November 2024. Rather, the reduction in electoral uncertainty after the elections will help investors place more confidence in risk-on assets such as Bitcoin. Bradford opined that the US Federal Reserve (Fed) was late in cutting interest rates after hiking them over the past two years. He concluded that to correct its delayed action, the Fed might cut rates more aggressively in the next 15 to 16 months, leading to further BTC price appreciation. Bitcoin Price Looks For Further Upside, But Challenges Remain After hitting a low of nearly $53,900 on September 6, Bitcoin has rebounded by nearly 10% on the back of multiple positive developments, such as the Fed cutting interest rates by 50 basis points (bps), and increased net daily inflows to ETFs. Related Reading: Bitcoin Set For Biggest September Gains In A Decade: Heres Why Crypto analysts believe that there is room for further upside in Bitcoin price. For instance, analysts from 10x Research predict that BTC may reach $70,000 in the coming two weeks, followed by a new all-time high (ATH) price. However, there are reasons to temper this optimism. For example, the recent Bitcoin rally has been accompanied by a rapid increase in open interest, indicating the possibility of high price volatility in the near term. Similarly, another analyst highlighted the greater increase in derivatives trading compared to spot trading as a cause for concern regarding a healthy Bitcoin price trajectory to the upside. Bitcoin trades at $63,710 at press time, down 3.2% in the past 24 hours. Featured image from Unsplash, Chart Tradingview.com
Binance Bahrain B.S.C. (c) will now provide services for South African derivatives users, ensuring compliance with local regulations. (Read More)
The HKMA and SFC have concluded their consultation on enhancements to Hong Kong's OTC derivatives reporting regime, aiming for implementation in September 2025. (Read More)
Liquidation data from exchanges are bogus and a vast underrepresentation of actual liquidation volumes in the market, according to K33 Research.
Standard Chartereds venture capital arm gets a toehold in Europe with its investment in the EUs only MiFID II-compliant crypto platform.
With both spot and derivatives trading showing robust growth, exchanges like Bybit and Binance continue to play pivotal roles in facilitating this activity.
Data shows the cryptocurrency derivatives market has suffered liquidations of more than $1 billion in the past day as Bitcoin has crashed to $52,000. Bitcoin Has Plunged By More Than 15% During The Last 24 Hours Bitcoin investors have been dealt a shock to open Monday, with the cryptocurrency having crashed by more than 15%, [...]
The post Crypto Liquidations Cross $1 Billion As Bitcoin Crashes To $51,000 appeared first on Crypto Breaking News.
Traders, whales, and ETFs are buying each major dip, but Bitcoin continues to lose momentum, calling the duration of the current bull market into question.
The applications cover ETFs from issuers including Grayscale, iShares, and Fidelity.
Each futures contract is sized at one-50th of 1 BTC.
Synthetix faces fierce competition on the DeFi-oriented layer 2.
On-chain derivatives weekly trading volumes have been shrinking for the third consecutive week, indicating a potential lack of risk appetite among traders, based on DefiLlama data. The declining volume is driven by several factors, including macroeconomic uncertainties like the unclear outcome of the US presidential elections, the rising tensions in the Middle East, and the possibility […]
The post On-chain derivatives trading volume declines third week in a row appeared first on CryptoSlate.
Its part of the fallout from the industry-wide liquidity crunch triggered by FTX in 2022.
Onchain derivatives fuel DeFis resurgence, with daily volumes reaching $5 billion amid rising competition.
Brazils CVM issued a warning to the crypto exchange in 2020 that it was offering residents derivatives products without authorization.
Bitcoin’s drop to below $50,000 on Aug. 5 marked the largest drawdown in the current cycle, resulting in substantial profit losses and liquidations. And while BTC has shown solid signs of recovery since then, consolidating around $60,000, the market still remains cautious as it recently dipped below this psychological support. This cautiousness is best seen […]
The post Bitcoin market cautious as longs and shorts balance out appeared first on CryptoSlate.
ETH price dropped to a multi-month low but ETH derivatives data suggests that traders believe the correction is over.
Europe'sleading derivatives exchange, is set to broaden its cryptocurrency offeringswith the introduction of FTSE Ethereum Index Futures and Options on August 12,2024. This move follows the successful launch of Bitcoin derivatives on Eurexin 2023, marking another step in its strategy to provide regulated access tomajor cryptocurrencies.
Eurex to Launch EtherFutures and Options, Expanding Crypto Derivatives Suite
The newEthereum-based contracts will be available in both euros and US dollars, witheach contract representing 10 ETH, valued at approximately $35,000. Thesecash-settled derivatives will expire on the last Friday of each month, offeringmonthly and quarterly maturities. Additionally, weekly expiring options will beavailable to provide traders with more flexibility.
"Asone of the world's leading CCPs, Eurex offers trading on a regulated exchangeand is therefore the right partner to enter the crypto space for institutionalclients," Randolf Roth, a member of Eurex's Executive Board, commented. Welook forward to expanding our offering in crypto derivatives together with FTSERussell and Digital Asset Research for our clients.
Theunderlying FTSE Ethereum Index, developed in collaboration with Digital AssetResearch (DAR), adheres to EU Benchmark standards. The final settlement ratefor these contracts will be determined using a volume time-weighted averageover a 15-minute period prior to fixing.
Thisexpansion comes as Ethereum, with a market capitalization of around $400billion, continues to attract significant institutional interest. This is alsoa natural step following the success of a similar instrument for the oldestcryptocurrency, Bitcoin.Eurex's BTC derivatives, launched in April 2023, haveseen over 100,000 contracts traded, equivalent to more than $3.5 billion innotional value.
Inassociation with the experts at Digital Asset Research we have established anindustry standard for assessing underlying digital asset and exchange inclusion,Kristen Mierzwa, Head of Digital Assets at FTSE Russell, an LSEG business,commented. We have applied this vetting methodology to offer indicesreflective of the real investable market.
Last year,Eurex became the first European exchange to introduce crypto index futures withthe launch of the FTSE Bitcoin Index in both USD and EUR. It is important tonote that Eurex has already been listing a variety of othercryptocurrency-related instruments in the past. For instance, in 2021, the exchangeexpanded its offerings to include Bitcoin ETNs.
Eurex Trading Volumes
In 2023,Eurex saw a slight decrease of 2% in its total trading volume, which amountedto 1,915.1 million contracts. This reduction was largely due to a 9% drop inindex derivatives, which totaled 871.7 million contracts. Conversely, the OTCClearing sector saw an increase, with average daily cleared volumes rising by10% to 185 billion, up from 169 billion. The category of GC Poolingexperienced the most significant growth, with volumes surging by 142% to reach158.9 billion.
Recently,Eurex appointed Robbert Booij from ABN Amro as its new CEO. Booij, previouslyacquainted with Eurex through his role at ABN AMRO Clearing Bank N.V.,expressed his familiarity and honor in having served as the Chairman of theEurex Exchange Council.
This article was written by Damian Chmiel at www.financemagnates.com.World Crypto Global opens the door to digital freedom for everyone.
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