CME Bitcoin Options Trade $2.3M in Debut, BTC Price Hits 2-Month High

Bitcoin (BTC) futures options from CME Group saw volumes in excess of $2.3 million on the product’s first day of public trading, the company has confirmed.  Data from CME’s official website confirmed the successful rollout on Jan. 13, which began as scheduled and ultimately saw 55 contracts change hands.  Investors lap up BTC options products Each contract corresponds to 5 BTC, meaning that at current prices, the 55 contracts were worth $2.34 million.  Bitcoin markets rallied on release day, rising by more than 5% to hit highs of $8,550. Those…

Price Analysis Jan 13: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XMR, TRX

Though several cryptocurrencies are stuck in a range, the trend is gradually turning positive. Bitcoin has seen an uptick in volumes in the new year. A report by cryptocurrency market research firm Arcane Research shows that 7-day average daily trading volume has surged 126% in a week. Along with Bitcoin trading volume, the CME Bitcoin futures contract has also seen increased activity. The Bitcoin futures open interest has skyrocketed to a seven month high, which is only behind the peak seen at the end of June.  A pick up in…

BitMEX: Bitcoin Lightning Usage Higher Than Expected, And It’s Crucial For BTC

According of a research report from BitMEX, the largest cryptocurrency margin trading platform in the global market, the usage of the lightning network on bitcoin has surpassed expectations. More than 60,000 lightning network non-cooperative channel closures were recorded, and around 6,000 BTC were spent for closure transactions. The lightning network is a second-layer scaling solution that allows users to transact using bitcoin with extremely low fees. Why lightning’s growth is crucial for bitcoin’s long-term trend A channel on the lightning network is like a opening a tab at a bar.…

Price Analysis Jan 10: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XMR, TRX

The bounce off the first support levels on most major cryptocurrencies indicates a possible change in trend. Safe haven assets were dumped on Jan. 8, on reports that the US-Iran conflict might not escalate to an all out war. Cryptocurrencies, which had surged alongside gold and oil with also retreated from two-month high. However, the positive sign is that most major cryptocurrencies have held their immediate support levels, which indicates buying on dips. This shows that the sentiment has changed from sell on rallies to buy on dips. With the…

Bitcoin Price & Technical Analysis: BTC Developing Correction and Has Chances For New Growth

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex. Tech analysis of the BTC The BTC may grow in price due to the US vs. Iran conflict In ten years, the profitability of the BTC has been many times higher than that of Gold and S&P 500. On D1, speaking about the long-term moods of the cryptocurrency, there has been a pullback to 50.0% Fibo related to the previous declining wave after a convergence on the MACD. Also, the correctional dynamics have let the market test the resistance area at 50.0% ($8500.00)…

Bitcoin History Part 23: The First BTC Escrow

Before the emergence of crypto exchanges and trustless multi-sig, early bitcoiners saw the need for an escrow service – a mediator to act as a go-between for strangers transacting online. Given the panoply of options now available, it is strange to think that escrow was once provided by a few early supporters, who put their reputation on the line to give buyer and seller the protection they desired. So, how did the first bitcoin escrow service come about? Also read: Bitcoin History Part 22: The New Wealthy Elite “Bitcoin Escrow?”…

Price Analysis Jan 8: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XMR, ADA

Profit booking seen at higher levels. However, if the major cryptocurrencies can bounce off their strong support levels, it will indicate strength. The crypto markets continue to respond to the events happening in the United States-Iran conflict. Any sign of escalating tensions is boosting the crypto markets higher. Google Trends shows that the searches for terms “Bitcoin” and “Bitcoin Iran” have surged in the past few days. This shows that investors are considering Bitcoin as a safe haven asset, similar to gold. A report released by analytics firm SFOX showed…

Bitcoin (BTC) Soars Above $8K Mark on Geopolitical Concerns

One of the most remarkable events in the crypto space took place in the first half of 2019 when Bitcoin (BTC) went on a remarkable rally that almost mirrored the rally from 2017. However, the rally soon fizzled out, and it has been a bit of a rollercoaster ride for the world’s biggest cryptocurrency by market cap. That being said, BTC has managed to make a remarkable comeback in 2020, and today it breached the psychologically important level of $8,000. It should also be noted that the token hit its…

Diminishing Volume Indicative of the Potential for Bitcoin (BTC) to Reach a Fresh Low

With Bitcoin making new highs, bullish sentiment is rife within the space as many have once again called this the end of the corrective cycle. Volume, however, has been in decline since July 2019 and the technical structure of bitcoin looks more and more like the descending triangle that formed over the course of 2018, reported by Forbes, January 7, 2019. Maintaining Composure Amidst Exuberance Bearish price action is always accompanied by Bitcoiners deeming it “accumulation time” while bullish price action is supplemented by more of the same. Either way,…

Price Analysis Jan 06: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, XMR

Several altcoins have made their first move from longtime lows and if Bitcoin is able to confirm a bottom, a marketwide rally is likely to pick up steam. The price of an asset class is determined by its fundamentals and the sentiment towards it. At times of panic or exuberance, fundamentals take a back seat and sentiment dictates the price action. Currently, the US-Iran tension has sent investors scurrying towards safety. This has seen a move away from stocks and into assets that are considered safe havens. However, it is…