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Binance Futures has announced updates to the leverage and margin tiers for several USD-M and COIN-M perpetual contracts, effective from September 4, 2024. (Read More)
BitMEX to launch AAVEUSD and AAVEUSDT perpetual contracts with up to 20x leverage on September 4, 2024, expanding its derivatives offerings. (Read More)
EigenLayers EIGEN token is scheduled to unlock at 5:00 am UTC on Oct. 1 and will start trading on exchanges such as Binance soon after.
BitMEX introduces HMSTRUSDT perpetual swap with up to 50x leverage, providing traders with new opportunities in Hamster Kombat (HMSTR) trading. (Read More)
BitMEX announces the listing of CATIUSDT perpetual swaps, offering traders up to 50x leverage starting September 23, 2024. (Read More)
Bitcoin options market positioning shifted as BTC price shot through the $60,000 to $63,000 level.
Binance Futures will launch the KDAUSDT Perpetual Contract with up to 75x leverage on September 18, 2024, enhancing trading options. (Read More)
Standard Chartereds venture capital arm gets a toehold in Europe with its investment in the EUs only MiFID II-compliant crypto platform.
BitMEX has launched new perpetual swaps for FLOKI and CAT with up to 50x leverage, enhancing trading options for users. (Read More)
The Bitcoin trading protocol aims to unlock more Bitcoin liquidity and yield-generating capabilities for BTC holders.
Binance Futures announces the launch of the UXLINKUSDT Perpetual Contract with up to 75x leverage, enhancing trading options. (Read More)
Bitcoins perpetual funding rate shows lack of confidence from bulls, but options markets are displaying resilience.
Bitcoin price struggles as stablecoin and futures market data show declining confidence among traders.
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.
Bitcoins weekend rally to $65,000 has evaporated despite confirmation that the US Federal Reserve will cut rates in 2024.
Synthetix faces fierce competition on the DeFi-oriented layer 2.
Binance Futures announces the launch of USD-margined POPCAT and SUN perpetual contracts with up to 75x leverage, aiming to expand trading options. (Read More)
BitMEX will list the new SUNDOGUSDT perpetual contract, offering up to 50x leverage, on 23 August 2024 at 04:00 UTC. (Read More)
The month of August has been largely uneventful for Bitcoin so far, with the premier cryptocurrency having struggled to reclaim the $65,000 price mark since August 2. Currently, Bitcoin is slightly below $60,000 as the bulls and bears seek to grab control in what has been a range-bound market for the past week. Interestingly, CryptoQuant analyst XBTManager has shared revelations that indicate the BTC market is likely to maintain its current bearish form for the time being. Related Reading: Bitcoin Bears in Control? Record Low Funding Rates on Binance Signal Market Shift Wide Spot-Perpetual Gap Spells Trouble For Bitcoin On August 16, XBTManager reported that Bitcoins Spot-Perpetual Price Gap, as tracked on the Binance exchange, is continually in a negative form indicating that the asset may record more price loss due to a sustained selling pressure. For context, a Spot-Perpetual Price gap occurs when there is a difference between the valuation of Bitcoin on the spot market which deals with the assets actual price, and on the perpetual markets which allow traders to deal in speculations of the Bitcoins future price. When the perpetual price is lower than the spot price as in the current case of Bitcoin, it indicates traders are massively offloading the asset in the perpetual futures market as they believe there could be an incoming price fall. Expectedly, XBTManager predicts this negative spot-perpetual gap will translate into a heightened selling pressure in the spot market as several traders will look to sell their assets and buy in the perpetual market thus taking advantage of the arbitrage to gain some profit. In the advent of such a reaction, deep liquidation hunts might occur i.e. where a large number of leverage positions are forcefully closed down, leading to a larger negative Spot-Perpetual Gap, and increased selling activity. However, XBTManager has noted a potential positive for Bitcoin in this uncanny situation. The analyst states that high selling pressure will likely result in an accumulation of multiple short portions on Bitcoin. Therefore, the instance of a sudden price gain might force these positions to close leading to some significant buying activity that could reduce the current negative Spot-Perpetual Price gap. Related Reading: Bitcoin Still At Risk Of Further Correction, CryptoQuant Head Says BTC Price Overview At the time of writing, Bitcoin trades at $58,981 with a 2.28% gain in the past day. However, the tokens daily trading volume is down by 16.37% and is valued at $29.5 billion. On larger time frames, Bitcoin also remains in the red zone with a loss of 2.92% and 8.76% over the last seven and thirty days respectively. Featured image from The Economic Times, chart from Tradingview
BitMEX announces the listing of BANANAUSDT perpetual swap, offering traders up to 10x leverage starting August 16, 2024. (Read More)
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