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Bitcoin’s (BTC) 32% weekly rally became bears’ worst nightmare as Friday’s $860-million options expiry is approaching. After breaking the $54,000 level, over 99% of the bearish bets using put (sell) options are likely to become worthless. Bears are in a dangerous position, particularly as Bloomberg’s Crypto Outlook pointed out that Bitcoin’s $50,000 resistance was about to flip support. Senior commodity strategist Mike McGlone cited such factors as increasing adoption along with a diminishing supply on exchanges. Bloomberg also noted that traditional finance investors’ concerns surged after the protection against the…
The Atlanta-based company is teaming up with digital asset firm Galaxy Digital and index provider Alerian for the Invesco Alerian Galaxy Crypto Economy ETF, which will trade on Cboe Global Markets under the ticker “SATO,” and the Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF, with the ticker “BLKC.” Trading starts at 9:30 am ET. Source
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Bitcoin (BTC) continues to strengthen after breaking above $50,000 earlier this week and rallying Thursday to a five-month high. The cryptocurrency was trading around $54,000 at press time and is up 5% over the past 24 hours. Overbought signals suggest risk of a pullback, albeit limited to support around $50,000-$52,000. The intermediate-term uptrend has improved over the past few months, which could keep buyers active toward the all-time high near $64,000. The relative strength index (RSI) is the most overbought since September, which preceded a correction. However, a similar downturn…
Bitcoin’s options contracts used to hedge spot and futures market exposure are exhibiting bullish sentiment across all time frames in a sign of confidence in the cryptocurrency’s price rally. The one-week and one-, three- and six-month put-call skews are hovering below zero, indicating calls – or bullish bets – are drawing higher prices than puts, which are bearish bets. The one-week and one-month metrics have recently flipped bullish, having seen positive values greater than 10% in the past month. Back then, traders sought short-dated downside protection on concerns the instability…
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io On StartUpCentral catch up the discussion of the Indian Angle of the cryptocurrency exchange with Our guests co founder and Co-CEO Stockal Inc, Vinay Bhardwaj and CEO Coidcx, Sumit Gupta. India is yet to introduce a legislation in parliament but from the RBI’s and other financial institute’s approach it seems that India is inclined towards being it into the investment ecosystem. Vinay and Sumit analyze and evaluate the concept of Coinbase and it’s impact on the India stock exchange and how their…
Zimbabwean crypto and economic experts have suggested Finance Minister Mthuli Ncube’s positive comments about cryptocurrencies do not necessarily mean monetary authorities are about to remove restrictions that were imposed in 2018. The Case for Blockchain Instead, the experts claim the remarks show that the government is only interested in aspects of blockchain technology that are beneficial to it. They insist, however, that because the Zimbabwean government — just like its peers in Africa — will not countenance ceding monetary control to anyone, it will not lift restrictions on cryptocurrency trading.…
Investors in Northern Data have lost about $300 million this week as shares of the provider of high-performance computing services to bitcoin miners slumped after media reports that BaFin, Germany’s financial regulator, accused the company of market manipulation. Source
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