Bitcoin Price Reclaims $6K as Traders Eye New BTC Futures Gap Above

Bitcoin (BTC) swiftly retook $6,000 after losing support on March 30, as analysts eyed a potential for the price to fill a new gap in futures markets. Cryptocurrency market daily overview. Source: Coin360 BTC price gains 3% after a brief dive Data from Coin360 and Cointelegraph Markets showed BTC/USD trading at around $6,300 at press time — a rise of 2.8% on the day.  The past 24 hours had seen the pair dip to lows of $5,870 after signaling weakness throughout the weekend. Those were short-lived, however, with Bitcoin regaining…

Tether’s Dominance Solidified as more Exchanges Launch Bitcoin USDT Futures Contracts

In brief: In the last week, two prominent crypto exchanges have launched Bitcoin USDT perpetual contracts. They include Bybit and KuMex (KuCoin’s derivatives platform.) Tether (USDT) is ranked 4th according to market cap.  Its website states the company has $6.229 Billion in assets.  Trading of Bitcoin futures contracts has become more popular as crypto traders seek volume and volatility that has now escaped the majority of altcoins. In a previous analysis, we saw how Binance had overtaken Bitmex in terms of 24-hour trade volume of Bitcoin futures contracts. This indicates…

Tether’s Dominance Solidified as more Exchanges Launch Bitcoin USDT Futures Contracts

In brief: In the last week, two prominent crypto exchanges have launched Bitcoin USDT perpetual contracts. They include Bybit and KuMex (KuCoin’s derivatives platform.) Tether (USDT) is ranked 4th according to market cap.  Its website states the company has $6.229 Billion in assets.  Trading of Bitcoin futures contracts has become more popular as crypto traders seek volume and volatility that has now escaped the majority of altcoins. In a previous analysis, we saw how Binance had overtaken Bitmex in terms of 24-hour trade volume of Bitcoin futures contracts. This indicates…

Tether Becomes Second Crypto to Launch on Blockchain Futures Platform

As the volume of Bitcoin (BTC) derivatives trading continues to rise, the cryptocurrency industry keeps tapping more crypto markets, like stablecoin Tether (USDT), for futures trading. KuMEX, a derivatives arm of IDG-backed crypto exchange, KuCoin, is planning to roll out USDT-margined Bitcoin perpetual contracts on March 30, 2020, the firm officially announced on March 27. KuMEX currently supports only Bitcoin and USDT While the new type of futures contract will be launched next week, KuMEX users are already able to deposit USDT via the web or public API starting from…

KuCoin’s Futures Platform KuMEX Launches USDT Perpetual Contracts

KuMEX, the Bitcoin futures platform developed by KuCoin, today announced that USDT Perpetual Contracts will be officially available on the exchange at around 18:00 on March 30, 2020 (UTC+8) and deposit of USDT has already been enabled. Unlike the Bitcoin (BTC) Perpetual Contracts on KuMEX, all profits, losses and account balances will be denominated in USDT. To better manage trading risks, the BTC/USDT Spot Index used by KuMEX is the volume-weighted average price of BTC/USDT across six exchanges including Binance, OKEx, Huobi and KuCoin. Also, the trading volume weight will…

Binance Reveals the Secret Behind Its Cryptocurrency Futures Success

Aaron Gong, vice president of futures at major cryptocurrency exchange Binance, explained to Cointelegraph how the firm managed to become one of the top crypto futures trading platforms. As Cointelegraph reported earlier this week, Binance recently overtook BitMEX and became the second-largest platform in terms of 24-hour Bitcoin (BTC) futures trading volume. When asked whether he is surprised by such success, Gong said that the firm created the product with the plan of becoming the top Bitcoin futures trading platform: “We knew we would be there soon, and we made…

Physical Delivery of Bitcoin in Bakkt Futures Rises 44% in March

Physical delivery of Bitcoin (BTC) for futures on the Intercontinental Exchange (ICE)’s Bakkt platform is going strong, despite a tumultuous month for the markets. Data from Arcane Research posted on March 26 reveals that, as of March 20, the number of traders opting to receive physical delivery of the cryptocurrency rose 44% on the month. Bakkt delivery of Bitcoin, Oct. 2019- March 2020. Source: @ArcaneResearch Physical vs. cash settlement  Bakkt’s Bitcoin futures contracts — the first of their kind to be physically settled in Bitcoin — first went live in…

BitMEX Slips Behind Binance and OKEx for Bitcoin Futures Trading Volumes

Bitcoin (BTC) derivatives exchange BitMEX has fallen to third place in 24-hour trading volume for Bitcoin futures.  Data from Skew analytics on March 23 reveals that the derivatives giant, founded by Arthur Hayes, is reporting $2.45 billion in 24-hour futures volume, as against Binance’s $2.48 billion and OKex’s $3.08 over the same time frame. 24-hour trading volumes for Bitcoin futures contracts on major exchanges. Source: skew.com Mid-term trends Earlier this month, aggregated open interest in BitMEX’s futures contract took a steep plunge from $1.2 billion on March 12 to $745…

More Monday Carnage? US Futures Plummet, Bitcoin Price Below $6K

After failing to gain above the $6,400 resistance on March 22, Bitcoin (BTC) bulls spent the remainder of the day struggling to bring the digital asset back above $6,000. At the time of writing Bitcoin trades slightly below $6,000 and many traders anticipate further downside as the Coronavirus pandemic continues to worsen in the United States and Europe.  Crypto market daily performance. Source: Coin360 As mentioned by previous analysis last week, crypto traders, along with those in the traditional markets are keeping a close on how markets and investors respond…

Bitcoin Jumps as US Stock Futures Rebound after Coronavirus-induced Sell-off

Bitcoin traded higher on Tuesday following a severe sell-off that saw its prices plunge by circa $900 at the start of this week. The benchmark cryptocurrency jumped to intraday high of $5,466 from its weekly low, up 23.34 percent as traders hunted for short-term profits. The move upside quickly followed a weak pullback into the European morning session, bringing price about $200 lower. BTC/USD posts intraday gains after Monday’s rout | Source: TradingView.com, Coinbase Bitcoin’s upside moves followed a similar recovery in the US stock futures. According to CNBC pre-market…