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Bitcoin (BTC) options aggregate open interest has increased to $2 billion, which is 13% below the all-time high. Although the open interest is still heavily concentrated on Deribit exchange, the Chicago Mercantile Exchange (CME) has also reached $300 million. In simple terms, options derivatives contracts allow investors to buy protection, either from the upside (call options) or downside (put options). Even though there are some more complex strategies, the mere existence of liquid options… Source link

Historically, a weaker United States Dollar leads to strength across other “safe haven” assets. By analyzing the correlation, such momentum and conclusion can also be drawn with Bitcoin (BTC) and the USD. Bitcoin has gained in 2020 as the U.S. Dollar Currency Index (DXY) has been having a tough year. But will this momentum continue in the coming months? Let’s take a closer look at the charts. Bitcoin has to hold the $11,000 support level to avoid a CME gap test at $9,600 BTC/USD 1-day… Source link

Jeff Bezos is the world’s richest man, but someday if bitcoin crosses a certain valuation then Satoshi Nakamoto will be the wealthiest if he/she or they are still alive. Today, Satoshi Nakamoto, is the 157th richest person worldwide, and the crypto asset will have to cross six digits in order to surpass the Amazon founder’s net worth. In 2020, the founder of Amazon has a whopping 175 billion and he’s currently the… Source link

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Photographer: Ulrich Baumgarten/Getty Images Photographer: Ulrich Baumgarten/Getty Images While Ethereum has become the blockchain of choice for many of the digital-asset world’s hottest cryptocurrencies, a next generation… Source link

The price of Bitcoin (BTC) has been consolidating within a tight range for several months. If the top cryptocurrency successfully breaks out, Bitazu Capital founding partner Mohit Sorout says a record-high would be imminent. Since July 2020, Bitcoin has been ranging between $10,200 and $11,800, a 15% range. It has seen subdued volatility for a prolonged period, except for some short instances of a volatility spike. When Bitcoin stays stable for a long time in a tight price range, a major price… Source link

Bitcoin (BTC) and Ethereum (ETH) fundamentals with an upward trend indicate an imminent price increase. Bitcoin’s mining rewards stand at $20 billion while the network records strong health. Bitcoin Jack analysts predict an Ethereum price of $2000 for Q4 2020 or early 2021. Despite the severe measures that the trading platforms BitMEX and OKEx have faced due to investigations by authorities, the fundamentals of Bitcoin and Ethereum remain strong. Both blockchains are in record moments of… Source link

Earlier this week Bitcoin (BTC) price entered a bullish breakout to $11,725 following the previous week’s news that Square purchased $4,709 BTC but since then the price has slumped back into a sideways range.  Several rejections near $11,500 and the recent news of OKEx halting all withdrawals as its CEO ‘cooperates’ with an investigation being carried out by Chinese authorities is also weighing on investor sentiment and Bitcoin price. Cryptocurrency daily market performance snapshot…. Source link

Cryptocurrency reserves held on digital asset exchanges have been dropping to new lows, as some of the top exchanges have seen significant bitcoin reserve balance drops. A few months ago trading platforms had a lot more bitcoin reserves on hand and onchain data shows a few exchanges have seen customers steadily drain 187,000 bitcoins ($2.1B) from exchange-owned cold wallets. In February, Coinbase had 1 million bitcoin… Source link

Data from Arcane Research shows Bakkt Bitcoin exchange saw another record-high month from Sept. 20 to Oct. 20. This follows a noticeable rise in institutional demand for Bitcoin (BTC) from public companies in recent months. Bitcoin delivery on Bakkt. Source: ICE, Arcane Research Bakkt, the digital asset payment platform and derivatives exchange, is tailored for institutional investors in the U.S. It is operated by Intercontinental Exchange, the parent company of the New York Stock… Source link