Bitcoin Futures Premium Shows That Institutions are Bullish on BTC

Bitcoin futures have seen a rising premium over spot BTC in recent months, which seems to indicate that traders are bullish on the benchmark cryptocurrency. This premium is particularly clear while looking towards the CME – which seems to indicate that professional traders and institutions are particularly bullish on BTC at the present moment. This comes as Bitcoin and the entire cryptocurrency market faces an intense bout of abnormally low volatility, which has caused liquidity to dry up. Periods of low volatility coupled with limited liquidity are typically followed by…

This Unique Perspective on Bitcoin Charting Makes Bull Breakout Clear As Day

Switching Bitcoin price charts from one type to another gives a clear as day look at what appears to be a full-blown breakout into a bull market. Better yet, the price action also shows a retest of downtrend resistance turned support, which could act as a launchpad for the cryptocurrency. Understanding Technical Analysis, Trend Lines, Subjectivity, and Bias Reading through Bitcoin-related subreddits or glancing through crypto Twitter comments reveals a strong disbelief in technical analysis. Some argue that drawing lines on charts is a senseless practice, and price action will…

COVID-19 Could Accelerate Crypto Adoption

During a Unitize panel on Monday, Balaji S. Srinivasan commented that COVID-19 has changed everything — and it could ultimately end up accelerating Blockchain adoption.  Srinivasan is known for numerous roles in the crypto space. He’s an angel investor, an entrepreneur, the former CTO of Coinbase, and a General Partner at Andreessen Horowitz. He believes COVID-19 has made centralized governments more powerful than ever before, and feels that government overstepping is causing people to seek new ways to maintain their fundamental rights. He speculates that this is where crypto and…

Market Wrap: With Low Volatility, Traders Seem to Like $9,000 Bitcoin

Over the past month, while market action has been relatively quiet, crypto traders have punched the buy button when bitcoin’s price drops below $9,000. Bitcoin (BTC) trading around $9,208 as of 20:00 UTC (4 p.m. ET), slipping 0.80% over the previous 24 hours. Bitcoin’s 24-hour range: $9,201-$9,379 BTC above 10-day and 50-day moving average, a bullish signal for market technicians, although trading volumes on Tuesday are lower than Monday. Bitcoin trading on Coinbase since July 5.Source: TradingView “Bitcoin managed to approach the level of $9,300, after which immediately rolled back…

The Popular Stablecoin Tether Is Now Circulating on the Bitcoin Cash Network

The most popular stablecoin tether (USDT) has officially been minted on the Bitcoin Cash blockchain via the Simple Ledger Protocol (SLP). At press time there’s only 1,010 SLP-based USDT in circulation, as the firm Tether Limited seems to be issuing small amounts and testing the SLP framework. Tether (USDT) is the king of stablecoins in the crypto economy and according to the company’s transparency page, there are more than $9.8 billion tethers in existence. The stablecoin is a token that is also hosted on a number of blockchains including the…

Bitcoin Options Data Shows Investors Betting on $50K BTC Price in 2021

Over the past three weeks, $150,000 worth of Bitcoin (BTC) $50K call options for June and December 2021 strikes have been traded. LedgerX derivatives exchange has been intermediating these ultra bullish trades, but what could be the rationale behind them? There are some good reasons for buying options with such small odds, but paying $1,000 for the privilege of purchasing Bitcoin 440% above the current price in 18 months seems unreasonable.  Even considering an annual 100% volatility, which is quite high even for Bitcoin’s standards, the probability that the price…

Nearly $60M in Bitcoin Moved to Ethereum in June

Nearly $60 million worth of bitcoins moved to Ethereum during June, according to data estimates from Dune Analytics. Wrapped Bitcoin, the oldest tokenized bitcoin protocol on Ethereum, is responsible for roughly 75% of that growth after moving more than 4,800 BTC to Ethereum last month.  Demand has increased for using bitcoin in a variety of decentralized financial services as Ethereum continues to be the most popular off-chain destination for bitcoins. More specifically, yield farming and MakerDAO adding tokenized bitcoin as collateral are likely strong catalysts, said Medio Demarco, former associate…

Ethereum 2.0 Price Prediction! HOW HIGH WILL ETH GO?

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io I analyze ethereum price using 5 different factors to determine potential resistance. Because Bitcoin is consolidating, it a good time to trade other cryptocurrencies. Also we go over the trade which I made as well as the ascending triangle which led to the breakout. 00:40 Breaking down the ascending triangle 02:05 My ETH breakout trade 03:27 Five ways to find potential resistance 04:02 Measured move of the ascending triangle 04:18 Measured move of the previous trend leg 05:48 Previous daily high 06:05…

Global Compatibility Is A Key Factor In The CBDC Race, Says Expert

International interoperability will become the cornerstone of the CBDC race as it goes forward, according to Douglas Arner, director at Asian Institute of International Financial Law at the University of Hong Kong.  Speaking at the Unitize blockchain conference earlier today, Arner argued that the interconnections between different global economic systems will become “one of the biggest challenges — and one of the biggest opportunities” as more countries are becoming involved in CBDC projects across the globe. In Arner’s view, the Chinese financial system already has some predispositions for the cross-border…

Could a Cardano & Litecoin Team Up Be in the Works?

Cardano founder Charles Hoskinson recently said that he would not mind working with Litecoin founder, Charlie Lee, to test cross chain communication. “It would be great to do something together,” Hoskinson said in a July 7 tweet to Lee.  Both men founded industry giants Hoskinson founded Cardano (ADA), which, at press time, sits seventh on the list of crypto assets in market cap size, according to CoinMarketCap. Litecoin maintains the eighth spot. Both figure heads hold notable status in the crypto and blockchain space.  “I love the idea of testing cross…