As Bitcoin hit 2020’s ATH at nearly $15800, open interest on top derivatives exchanges like CME and Bakkt went up. On CME, where top institutions trade, the open interest increased by 16% to $933 Million. CME futures open interest and volume || Source: Skew Based on data from Skew, open interest has climbed up, however,...Read More
Five months into the third halving and Bitcoin’s price has rallied 75%. Most of this can be attributed to the race to over $15000 in the past 24 hours. There was a 6.47% daily gain and this could possibly be termed parabolic. Hitting a high of $15000 did not even surprise most seasoned traders as...Read More
US Department of Justice announced on 5 November that it has filed a complaint to seize $1 billion worth of cryptocurrencies, in connection with the underground online marketplace Silk Road. In the document, DoJ revealed the seized funds included over 69,370 Bitcoin (BTC) and nearly equivalent amounts of Bitcoin Gold (BTG), BSV, and Bitcoin Cash...Read More
Galaxy Digital founder Mike Novogratz told CNBC’s Squawk Box that the Rubicon in BTC adoption has been crossed, even as BTC prices ranged roughly between $ At time of writing, bitcoin prices were hovering above $15,000. This bull run could have been a result of recent events, during which, some leading corporate entities began investing...Read More
In anticipation of the upcoming hard fork of Bitcoin Cash (BCH), Hardware wallet manufacturer, Trezor announced that it “will not be supporting any coin split that may result from it.” Our official announcement regarding Bitcoin Cash hard fork. Trezor will not be supporting any coin split that may result from it. Read the full statement...Read More
Bitcoin returns have been amazing without a doubt, but it has been touted as the most volatile asset. However, looking at how things have evolved over the last couple of years, we can say that bitcoin isn’t volatile, in fact, it is less volatile than FAANGs. Why institutions hate volatility? Institutions like their holdings [portfolio]...Read More
On 4 November 17:00 UTC, bitcoin crossed resistance at $14,100. Bitcoin has ranged between $13,545 and $14,223 in the last 24 hours, marking a new high for the year. Image Source: Trading View BTC was expected to face severe volatility since the US Presidential elections began, however, its price has been stable and is testing...Read More
Yesterday bitcoin observed the second largest negative difficulty adjustment [-16.05%] of all time. The most recent one was after the bitcoin halving when difficulty dopped by -14.56%. There is one interesting connection between these negative adjustments and it will affect not just the miners but also traders. This article talks about what that is and...Read More
Despite trading above $13000, Bitcoin is not over-leveraged. The overall positioning mix is largely the same as July 2020. This comes as a surprise, as the price has gained 20% in this duration and the sentiment was anticipated to change based on Markets Science’s latest report. The sentiment is similar to July based on the...Read More
Business intelligence firm MicroStrategy which had earlier invested $425 million of its treasury funds into bitcoin, in August and September, was lauded for supposedly driving mainstream BTC adoption at that time. However in an interview today macroeconomist and co-founder & CEO of Real Vision, Raoul Pal said that MicroStrategy was not going to drive corporate...Read More
With the spooky month coming to an ending, the spookiest thing you can expect is Ethereum outperforming bitcoin. Well, Ethereum outperforming bitcoin isn’t spooky per se, but there are other aspects to this that suggest otherwise. Outperformance here is comprised of solid price data and then the sentiment around each coin. Bitcoin v. Ethereum Price...Read More
Cryptocurrencies will now come under fresh regulations in Hong Kong as its Securities and Futures Commission (SFC) proposes to ban retail investors from trading in cryptocurrencies. The new rules also aim to force crypto exchanges in Hong Kong to obtain licenses. During the Hong Kong Fintech Week event on Tuesday, Chief Executive Officer of the...Read More
Amid rumours of Huobi’s exec arrest and speculations arising from large USDT deposits and BTC withdrawals, the Singapore-based crypto company said in a statement today that it was “operating normally”. The firm reassured users in an official post that: We have noticed that recent events have sparked inquiries and speculation from some users. Huobi reiterated:...Read More
Lightning Labs, that developed the Lightning Network, a Layer 2 payment protocol and a proposed solution for the Bitcoin scalability problem, announced the release of Pool, “a non-custodial, peer-to-peer marketplace” which would “transform” Lightning liquidity into a tradable asset. Pool is said to allow node operators to buy or sell access to liquidity on the...Read More
A few days ago, Bitcoin ended the month of October by closing above $13,700. This was big news since this was the highest monthly close since the historic bull run back in 2017-18. A high close at a time when Bitcoin is not massively leveraged and when exchange reserves are still low points to the...Read More
With Bitcoin’s price rallying above $13,700, the Bitcoin market has captivated all institutional investors, more than it did in 2017. Institutional money is pouring into Bitcoin and it can be argued that the present stage of the price rally is like an institutional macro stage. Bitcoin’s spot and derivatives markets have differentiated themselves from other...Read More
Remember that altcoin, the one you thought was going to be big and make you tons of profit? The one whose bag you bought and perhaps, are holding to this day? Yes, this article is about those altcoins that you thought were gonna get big, perhaps even becoming the next Bitcoin. Alas, most of these...Read More
A common belief that has been doing the rounds lately is that Bitcoin’s recent price behavior is a replica of its historic 2017 bull run. That’s all well and good, but what most people forget is that back in 2017, there were stories equating the 2017 bull run to 2013’s. #bitcoin is creeping up people!!!I...Read More
Genesis lending has been an industry leader when it comes to loans/borrowing and lending on both retail and institutional levels. In its recent Q3 report, quite a few interesting developments came to the fore. Loans Source: Genesis For starters, the loan originations increased by more than half in Q3 of 2020, when compared to Q2...Read More
Ever wondered what the classic bottleneck is? In the crypto-market, when Bitcoin’s price crosses a long-known resistance and the price rallies, CT is filled with bullish sentiment, bullish tweets, and bullish rants even. However, where is the entire picture? A trader’s perspective is a 360-degree one. That, alas, is often lost around the noise that...Read More
Bitcoin has registered a considerable surge of 40% over the last 4 weeks. This week, in fact, as of this writing, Bitcoin had surged by a significant 5.47% on the charts. Perhaps, the $14,000-level could be a local top and we might retrace. However, it is too soon to ascertain that without looking into the...Read More
In the previous article, we laid down the premise. In this article, we’ll be diving further to better understand when you should buy Bitcoin. To reiterate, we’re looking at how often should you buy Bitcoin, based on a series of periodic moving averages. We’ve already looked at the 200-day moving average (DMA), and now we’ll...Read More
Most crypto-statisticians believe that Bitcoin has begun decoupling from the U.S. stock market index, the S&P 500. In fact, Willy Woo had predicted that Bitcoin would break ties with the traditional market due to a boost in new entrants. Given the impact the correlation between stocks and Bitcoin has had on the crypto-market, the decoupling...Read More
A British citizen who has reportedly been an ISIS member for over four years has appeared before a local court for allegedly sending money abroad (via BTC) to help captured ISIS militants escape Syrian prison camps. According to a report, the 27-year old citizen named Hisham Chaudhary faces seven terror charges, including membership of a...Read More
The aggregate open interest in Bitcoin futures is up 43% since the beginning of October. Based on data from Skew, cyclical drops in Bitcoin’s open interest on top derivatives exchanges occur every 45-50 days. BTC Futures Aggregated open interest || Source: Skew In the past year there were 3 peaks of open interest above $5.5...Read More
A fully owned subsidiary of the private Russia-based Gazprombank (JSC) bank announced that it has received authorization from the Swiss Financial Market Supervisory Authority (FINMA) to provide cryptocurrency custody services as well as trading between crypto and fiat currencies to its corporate and institutional clients. Gazprombank said it would first provide these crypto-focused services to...Read More
Founder and CEO of business intelligence firm MicroStrategy, Michael Saylor said in a tweet today that he personally holds 17,732 BTC which he bought at $9,882 each on average. In addition to declaring his personal BTC haul, Saylor said that he had informed MicroStrategy about his personal BTC investment before the company decided to buy...Read More
It seems the hacked funds from cryptocurrency exchange KuCoin will continue to grab attention, as the culprits involved have been trying to move the stolen crypto again. The crypto and blockchain tracking service Whale Alert published a tweet today indicating that 807 BTC (worth about $10,840,727 at the time of the transfer) of stolen funds...Read More
Digital currency Asset Manager Grayscale Investments’ latest ‘Bitcoin Investor Study’ found in its survey that more than half (55%) of its US-based respondents are interested in investing in bitcoin in 2020 and that nearly half of those surveyed predicted that digital currencies were heading for mainstream adoption by the end of this decade. In fact,...Read More
Retail network of BTC ATMs, LibertyX will now allow consumers to sell bitcoin for cash from thousands of their local ATMs in the U.S., it announced. In the past six years, LibertyX said it has allowed users to buy bitcoin at 5,000 ATMs and 20,000 chain store locations in the U.S. LibertyX CEO and co-founder...Read More
