Bakkt Bitcoin futures smashes daily volume record by 36%

Bakkt, a regulated platform for crypto asset custody and trading owned by Intercontinental Exchange, has reported record daily trading volumes for its physically-settled Bitcoin (BTC) futures contracts. On September 16, Bakkt announced that more than $200 million worth of BTC contracts had been traded over a single day — breaking its previous record by 36%. According to crypto market data aggregator Skew, the record figure is roughly double the average daily volumes posted throughout September so far. Bakkt daily Bitcoin futures volume: Skew Despite being touted as the likely catalyst…

LedgerX exchange launches physically settled Bitcoin mini futures

LedgerX, a regulated futures exchange in the U.S., has introduced physically-settled Bitcoin (BTC) futures contracts. This allows investors to receive physical delivery of BTC and some analysts believe this will amplify the impact on the price of BTC. XBT/USD daily chart. Source: TradingView.com How physical delivery may impact Bitcoin price? When Bakkt first launched with the backing of its NYSE parent company ICE, it received significant hype. Most of the interest around the platform surrounded its physical delivery of BTC, meaning, if institutions desired, they could actually hold BTC via…

Bitcoin price hits $9.8K as quest to fill futures gap sees 6-week lows

Bitcoin (BTC) hit fresh lows on Sep. 7 as renewed selling pressure saw the largest cryptocurrency return to the $9,800 range. Cryptocurrency market daily snapshot, Sep. 7. Source: Coin360 Analyst eyes BTC price bottom at futures gap Data from Coin360 and Cointelegraph Markets showed more trouble for BTC/USD on Monday, the pair hitting $9,880 — its lowest since July 26. BTC/USD 1-day price chart. Source: Coin360 After mixed performance over the weekend, $10,000 looked increasingly shaky support, something that analysts warn could be pivotal in the short-term. Discussing the current…

Bitcoin price risks losing $10,000 zone toward the CME futures gap

The past week has seen a significant sell-off across the markets with Bitcoin (BTC) losing more than 10% of its value. Other cryptocurrencies have been showing even more weakness as Ether (ETH) dropped by 30%. In addition, the commodity and equity markets have also slid as the Nasdaq had a significant red week as well. The next step for the markets right now would be finding a bottom structure. Let’s look at the charts. Crypto market daily performance snapshot. Source: Coin360 Bitcoin seeks CME gap while holding psychological support of…

Huobi Futures Launches Bitcoin Options Today

The new feature by Huobi comes at a time when Bitcoin is experiencing a heightened system activity that is anticipated to trigger a bigger bull run than the previous one. Through a press release published on August 31, Huobi Futures announced that it would launch Bitcoin (BTC) options for trading on Tuesday, 10:00 UTC. According to the company, the new product launch follows the successful roll-out of Huobi Futures’ Perpetual Swaps that took place earlier this year, whereby it aims to give traders more ways to create arbitrage and hedge…

Yearn.finance Enters Price Discovery Following Binance Futures Listing

Yearn.finance (YFI) has been making headlines throughout the past few weeks, with the DeFi protocol going from being relatively unknown just a couple of months ago to now having the fourth-highest total value locked (TVL) in the entire ecosystem. This growth has had major implications for the YFI governance token’s price, which has been rocketing higher in recent weeks. The token just set fresh all-time highs earlier today, with it currently being worth well-over 3 BTC per YFI. Analysts are now noting that the crypto may soon enter price discovery,…

First Mover: Huobi Takes on OKEx in Futures, Opening New Front in ‘Chinese’ Rivalry

You’re reading First Mover, CryptoX’s daily markets newsletter. Assembled by the CryptoX Markets Team and edited by Bradley Keoun, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You can subscribe here. Market moves Cryptocurrency exchange Huobi is taking aim at competitor OKEx in the business of trading bitcoin futures and other derivatives contracts, opening up a new front in a longstanding rivalry between…

Bitcoin price shakes off $157M BTC futures expiry — Is $12,000 next?

Today’s Bitcoin (BTC) futures expiry was lackluster both in terms of price impact and volume. Open interest dropped by a mere $157 million, barely moving from its $5 billion mark.  As CoinTelegraph correctly predicted yesterday, this most recent CME Bitcoin futures expiry was irrelevant. Some $125 million worth of August contracts were set to liquidate today, although preliminary data indicates less than $40 million were not rolled over for the upcoming months. Total open interest, USD million. Source: Bybt.com & CoinTelegraph The chart above shows the total open interest change…

Bakkt Futures Volume Up on Institutional Trading; Its President Slams Offshore Options

Growing institutional interest is helping to drive a recent spike in volume on Bakkt, according to its president, Adam White. But the U.S.-regulated crypto derivatives exchange is holding out hope its dormant options platform will eventually gain traction. Trading volumes for physically settled bitcoin futures on Bakkt rose to $134 million on Tuesday from a previous high of $132 million on July 28, according to crypto derivatives data firm Skew. Bakkt went live last September. Bakkt open interest and volume.Source: Skew “The market recognizes the value that a regulated physically…