Day: November 17, 2021

Here’s why bears hope to pin Bitcoin under $60K ahead of Friday’s $1.1B options expiry

Bitcoin (BTC) bulls were euphoric when the price soared to $69,000 on Nov. 10 because the 14.5% gain accumulated over five days meant they were in for a $715 million profit on Friday’s options expiry. However, the 9% negative price move on Nov. 16 caught bulls by surprise, especially since most of the call (buy) options for Friday have been placed at $66,000 or higher. Curiously, that price level has been the exception rather than the norm. Bitcoin/USD price on FTX. Source: TradingView Bears might have been lucky because the…

Bitcoin Pullback Pauses as Traders Reduce Leverage

Separately, in the bitcoin options market, open interest (contracts that have been traded but not yet liquidated by an offsetting trade) is near all-time highs last seen during March and April, which preceded a significant price drop. It is possible that open interest can remain around current levels for another month before a sustained downturn in BTC’s price. Original

Crypto.com’s CRO Token Soars on Naming Deal for LA’s Staples Center

Crypto.com’s CRO token soared in digital-asset markets after the cryptocurrency exchange and credit-card issuer inked a naming-rights deal with the Staples Center, home of the Los Angeles Lakers basketball team. The Singapore-based crypto exchange bought the naming rights from AEG for 20 years, for $700 million, the LA Times reported, citing sources familiar with the matter. The CRO price rose 35% in the past 24 hours to 54.5 cents in digital-asset markets, pushing the reported market capitalization to $13.7 billion. Among the largest cryptocurrencies, the CRO token’s staggering one-day return…

Fidelity Launches Canada’s First Institutional Bitcoin Custody Service

Fidelity Clearing Canada ULC (FCC) has become Canada’s first regulated entity to offer bitcoin custody and trading services for institutional investors. “The demand for investing in digital assets is growing considerably and institutional investors have been looking for a regulated dealer platform to access this asset class,” Scott Mackenzie, FCC’s president said in a statement Wednesday. Institutional investors in Canada such as mutual funds and exchange-traded funds (ETF) previously had to use U.S.-based custodians. With FCC’s launch, more of these investors could potentially invest in bitcoin directly. In addition, Fidelity…

Fidelity clears regulatory hurdle to become Canada’s first institutional Bitcoin custodian

As reported by The Globe and Mail, Fidelity Clearing Canada received approval from the Investment Industry Regulatory Organization of Canada on Wednesday to launch a Bitcoin (BTC) trading and custody platform. It is designed for use by institutional investors — such as pension funds, portfolio managers and mutual funds — and would be a first-of-a-kind service in the country. The firm also plans to cater to retail investors with its regulatory filing for a Bitcoin exchange-traded funded and mutual fund, which was submitted earlier this week. As of September, Fidelity…

November Rains Red For Bitcoin Holders

Bitcoin price is struggling to maintain support at $60,000, having fallen more than 15% from the local record set earlier this month. But could the November rain storm that has resulted in a short-term bloodbath in crypto, be merely the final shakeout before the cycle peak is in? And could past cycles provide a preview of what this sort of scenario looks like? Let’s take a closer look. November Selloff Puts Four-Year Cycle Theory At Risk History is often said to repeat. Markets are also highly cyclical in their behavior.…

What is Ethereum? How is it different from Bitcoin? | CA Rachana Ranade

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io In this video, you will learn various concepts like the difference between Ethereum and Ether, dAPPs, Smart Contracts, deFi, NFT and many more concepts! To Invest in Cryptocurrency try @WazirX: Bitcoin & Cryptocurrency Exchange in India What is covered? 0:00 Start 01:08 Introduction to Ethereum 03:02 What are Dapps? 05:18 Ethereum explained 08:28 What are Smart Contracts? 10:07 What is DeFi 13:34 What is NFT? 14:50 ETH vs BTC 17:46 Conclusion You can get my Stock Market courses on It’s an opportunity…

China Targets Crypto Mining at State-Owned Enterprises, Threatens Punitive Measures – Mining Bitcoin News

Authorities in China are continuing to crack down on activities linked to cryptocurrencies which they consider illegal. The country’s top economic planning body has clearly indicated it intends to go after large-scale cryptocurrency mining taking place at government-operated industrial facilities. State Firms Mining Crypto in China to Face Higher Electricity Bills China’s National Development and Reform Commission (NDRC) announced Tuesday it plans to concentrate on the “comprehensive rectification” of state-run industrial enterprises involved in the extraction of digital currencies. The initiative is part of an ongoing crackdown on crypto-related operations…

Cardano Leads Altcoins As Market Marks 13th Consecutive Week Of Inflows

Cardano has flexed its muscles in the latest iteration of inflows coming into the market. Inflows have been steady the past couple of months, currently at 13 consecutive weeks of inflows for the market. Bitcoin and altcoins alike have benefited from the inflows which have indicated institutional interest piquing in the market. However, Cardano looks to have enjoyed the most benefits amongst the altcoins from last week’s inflows. Cardano Leading The Pack Cardano saw positive inflows for last week which put it ahead of other altcoins. Total inflows for the…