Bitcoin open interest hits $8.8B as 45% of BTC options expire in 2 weeks

Over the past two months the open interest on Bitcoin options has held reasonably steady even as the figure increased by 118% to reach $8.4 billion as (BTC) price rose to a new all-time high. The result of Bitcoin’s price appreciation and the rising open interest on BTC options has resulted in a historic $3.8 billion expiry set for Jan. 29.  BTC options aggregate open interest. Source: Bybt.com To understand the potential impact of such a large expiry, investors should compare it to the volumes seen at spot exchanges. Although…

Crypto Fear/Greed Index Drops Below 80, the First Time Since Nov. 2020

Quick take: The Crypto Fear and Greed index has dropped below 80 for the first time since November 5th, 2020 It had more or less plateaued above this value for close to 2.5 months A drop in the index could be the first signs of a Bitcoin and Crypto market cool-off Bitcoin faces the weekly close that could see the crucial $30k support tested once again The Crypto and Fear index has dropped below 80 for the first time since November 5th, 2020. At the time of writing, the Crypto…

First Mover: Biden’s $1.9T Plan Shows ‘Blue Wave’ Bitcoiners Saw Coming

(EDITOR’S NOTE: First Mover will not publish Monday, Jan. 18, in honor of Martin Luther King Jr. Day in the U.S., a CryptoX company holiday. The cryptocurrency market will be open, as it always is.)  Bitcoin (BTC) was lower, trading around the $38,000 level where prices have gravitated for the past week.   The market faces price resistance around $41,000, with support seen around $34,000, Mark Warner, head of trading for London-based BCB Group, a financial firm focused on digital assets, said in comments emailed by a spokeswoman.  “A move above…

First Mover: Forget Facebook’s Stablecoin. Now It’s $700B Bitcoin in the Crosshairs

Bitcoin (BTC) was higher, pushing back toward $40,000 after a 9.9% surge on Wednesday, the biggest calendar-day gain in a month.   Such a powerful recovery after a steep sell-off earlier in the week has quickly reinvigorated trader spirits. “This bubble doesn’t look set to burst,” said Don Guo, CEO of Broctagon Fintech Group, which helps smaller cryptocurrency exchanges tap into bigger pools of liquidity available from large exchanges.  In traditional markets, U.S. government bond yields rose along with stocks after CNN reported that President-elect Joe Biden on Thursday will unveil a new coronavirus…

UK’s FCA crypto derivatives ban may push retail investors to riskier grounds

It has stated a variety of reasons for why the products cannot be “reliably valued” by retail consumers, such as financial crime, volatility and an inadequate understanding of crypto assets being the main ones. It was estimated that retail investors will save $53 million due to this ban. This is despite the FCA releasing a research stating that U.K. consumers have invested an estimated $2.6 million in crypto assets. Although the main intention of this ban is to protect retail investors from the complexity of these products, the assumption that…

What are the secrets of the most successful blockchain startups?

Reminiscent of the internet boom of the late nineties, fast-growing industries such as blockchain often bring about a heightened level of enterprise, creativity and innovation, resulting in myriad startups and project launches all around the world. However, building any new venture from the ground up requires perseverance and endurance. This is especially true for a nascent industry such as blockchain, which has the potential to make a long-term impact on our social and economic systems.  In this article, we will examine the lessons learned over the years with blockchain technology,…

Valid Points: Price Dips, 60K Validators and Eth 2.0’s ‘Graffiti’ Messages

It’s been a rough start to the week for crypto investors, although numbers are starting to point upwards once again. Eyes were anxiously set on a new all-time high for ether that failed to materialize as Bitcoin miners largely pulled the price rug last weekend out from under the entire crypto market. Let us not despair too much, however. There’s much to be discussed in the world of Ethereum 2.0. This week, we’ll look at some network stats that continue to show healthy growth among multiple key metrics such as…

President-elect Joe Biden to Name Gary Gensler as New SEC Boss

Despite his exposure to the potentials inherent in cryptocurrencies, many people are divided on the probable approach of Gary Gensler if he is finally affirmed as the new boss of the Securities and Exchange Commission. The United States president-elect Joe Biden is expected to name Gary Gensler, a Washington financial technocrat as the next Chairman of the United States Securities and Exchange Commission (SEC). Gensler’s pronouncement as the new SEC boss is expected to be made known in the coming days according to a Reuters report citing sources close to…

CEX, Lies and Videotape: Binance Accuses Rivals of Fighting Dirty

While many U.S. crypto exchanges are using the latest bull run to spruce themselves up in hopes of impressing institutional investors and regulators, China’s so-called “Big Three” centralized crypto exchanges (CEX) – Binance, Huobi and OKEx – are slinging mud at each other.  The latest flap is over a bogus video that purports to show a single sell order of 21 million bitcoin on Binance on Jan. 4. The clip went viral last week on WeChat, a popular China-based social media platform. A screenshot of the video viewed by CryptoX…

First Mover: Cryptocurrency Euphoria Hits Breaking Point as Miners Lose Nerve

The recent euphoria in cryptocurrencies morphed into a severe sell-off, as bitcoin prices dove 12% on Monday, which would be the most for a single calendar day since March. Prices for the largest cryptocurrency had soared last week to an all-time high of $41,962, and that level was apparently sufficient to prompt some cryptocurrency miners to take profits. Declines were broad-based across digital-asset markets, with ether (ETH), XRP (XRP), litecoin (LTC) and cardano (ADA) suffering declines in the double-digit percentages.  “Time to take some money off the table,” Scott Minerd, chief investment…