Bakkt Bitcoin Futures Open Interest Hits New All-Time High of $6.54M

Bitcoin (BTC) futures open interest on digital asset platform Bakkt has hit a new all-time high. According to a Dec. 3 Twitter post published on Dec. 3 by Bakkt Volume Bot — a Twitter account dedicated to reporting Bakkt trading volumes — Monday’s open interest on Bakkt Bitcoin futures reached a new all-time high of $6.5 million. In futures markets, open interest is the number of open contracts in the market and is often used to indicate the health of the market. When there is a large amount of open…

OKEx Continues to Dominate the Crypto Futures Derivatives Market in Volume

Futures trading is one of the common trading activities in traditional financial markets, and it is no different when it comes to the cryptocurrency world as well. Currently, there are plenty of platforms that offer cryptocurrency futures trading options, and the leader among them by a huge margin is OKEx, which has managed to gain the tag of the world’s largest futures cryptocurrency exchange. 😱Crypto derivative market reported volume exceeds $20 billion in the wake of bitcoin price decline#bitcoin #btc $BTC #BItMEX pic.twitter.com/8seKkX52ZH — CoinGecko | coingecko.eth (@coingecko) November 22,…

Bakkt Bitcoin Monthly Futures Trade Set a New Weekly Volume Record of $124 Million

Bakkt is easily one of the most interesting platforms in the crypto market. Operated by the Atlanta-based Intercontinental Exchange (ICE), the platform is designed to push Bitcoin much deeper into mainstream adoption, by offering physically settled Bitcoin futures contracts. Bakkt initially had a very disappointing start, making many believe it wouldn’t amount to much. However, the platform has surprised many, including the naysayers, and has seen impressive and steady growth, as it continually sets new records. According to Bakkt Volume Bot (@BakktBot), a Twitter account operating independently but dedicated to…

Bitcoin Price Retests $7.3K as Analyst Eyes New Bullish Futures ‘Gap’

Bitcoin (BTC) fell back towards support at the $7,250-$7,300 level on Dec. 1 after its latest sudden uptick began to fizzle overnight.  Cryptocurrency market daily overview. Source: Coin360 Futures gap incoming if lower levels stay Data from Coin360 showed the largest cryptocurrency shedding almost 30% of its gains from earlier in the week, dropping from local highs of $7,790 to around $7,300 at press time.  The downside equated to 24-hour losses of 6% for Bitcoin, which began showing signs it would test support strength at $7,000.  Previously, BTC/USD hit multi-month…

Bitcoin Futures Settlement Date Suggests 4% Gains Likely

Bitcoin (BTC) is statistically likely to gain in the coming week as a new futures expiration event comes and goes, according to new data.  Compiled by trader an analyst Luke Martin on Nov. 25, figures charting Bitcoin price performance before and after each expiration show that overall, higher levels appear afterward. Data: BTC stands to gain next week Martin used CME Group’s monthly futures as a basis. Among the first futures to hit the market in December 2017, their settlement dates — of which Friday was one — have already…

Bitcoin Bounces Back above $7500, BTC Futures Market Expects Poor Show for 2020

The Bitcoin price movement over the last week has sent jitters among crypto investors. In the last seven days, the BTC price crashed to $6600 hitting its six-month low. But Bitcoin has bounced back quickly trying to consolidate above $7000 levels. In the last 24 hours, the Bitcoin price is on a northward trajectory surging nearly 10% above $7500 level. At press time, Bitcoin is trading at $7551 with a market cap of $136 billion. This much-needed relief rally has recently got investors’ hope back. However, experts say that it…

Cash-Settled Bitcoin Futures Traders Face ‘Black Hole’

Bitcoin (BTC) educator Andreas Antonopoulos says that while futures markets may indeed place a damper on the cryptocurrency’s price, the stakes are different to what you might think. In a Nov. 27 interview with YouTuber “Ivan on Tech,” Antonopoulos argued against the grain of commonplace fears about the adverse price impact that Bitcoin futures trading has on spot prices.  He suggested it’s the speculators — not the HODLers — who truly have something to fear. It’s not conspiracy: “it’s the Treasury’s job” Cash-settled Bitcoin futures — which have been trading…

Bitcoin Trading Bucks Trend at Bakkt as Futures Hit $42.5M Record High

Bitcoin (BTC) institutional trading platform Bakkt has set another giant new record for its futures contracts, topping 5,600 BTC on the day. As the company confirmed on Twitter, Nov. 27 saw a fresh all-time volume high for Bakkt’s monthly Bitcoin futures. During the session, Bakkt reported 4,443 BTC traded — over 60% higher than its previous record.  Bakkt doubles Bitcoin futures record Subsequently, non-affiliated monitoring resource Bakkt Bot counted an even higher total for the day — 5,671 BTC ($42.5 million). According to Bakkt Bot, the previous record in dollar…

Intensely Bearish BTC Futures Market Predicts Gloomy 2020 for Bitcoin Price

Bitcoin options traders on a major bitcoin futures market are expecting the bitcoin price to keep cooling through June 2020. If their market consensus projections hold true, bitcoin’s price won’t be getting a boost from May 2020’s halving. On the bright side, bitcoin futures are pricing in a 4% probability of a new all time high price above $20,000 in June. Bitcoin futures traders are bundling up for a long crypto winter. According to Skew Analytics data, bitcoin futures markets project a less than 40% chance that bitcoin will trade…

What Bitcoin Futures Data Reveals About the Latest Price Crash

The Commodity Futures Trading Commission on Friday released its latest Commitment of Traders report for the Chicago Mercantile Exchange. Futures are derivative products typically aimed at institutional investors looking to get exposure in cryptocurrency. Published weekly, the COT highlights which way traders are positioned in the market. Here is the latest report: The latest CME COT report. | Source: BitOoda The data may provide some insight into bitcoin’s latest tumble below $7,000. According to analysis from digital asset advisory firm BitOoda, a large drop in long positions is helping push…