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“# Traders search for bearish signals after Bitcoin futures enter backwardation ” An unusual phenomenon called ‘backwardation’ is taking place in Bitcoin (BTC) futures trading, mainly the June contract, which expires on June 25. The fixed-month contracts usually trade at a slight premium, indicating that sellers request more money to withhold settlement longer. Futures should…
“# Bulls aim to reclaim $40K ahead of Friday’s $520M BTC options expiry ” Bitcoin (BTC) bulls have little reason to celebrate the 25% rally over the past nine days. After testing the $31,000 support on June 8, top traders’ optimism faded, and even the recent $41,000 high was unable to boost their expectations. Contrary…
“# SynFutures raises $14M for derivatives DEX supporting ‘anything with a price feed’ ” Forthcoming decentralized derivatives exchange SynFutures has closed an oversubscribed $14 million Series A funding round led by Polychain Capital. The automated market maker’s funding round also saw participation from other heavyweight crypto investors including Pantera Capital, Framework, and Wintermute. Including the…
“# Crypto exchange Huobi has reportedly stopped letting new users trade derivatives ” Huobi, one of the largest cryptocurrency exchanges in the world, has reportedly restricted derivatives for new and existing users over concerns about China’s regulatory crackdowns. Chinese journalist Colin Wu reported on Twitter today that Huobi had temporarily dropped the maximum allowable trading…
“# Ethereum price bounce to $2.6K fails to excite neutral-to-bearish pro traders ” While speaking at the Virtual Fintech Forum in Hong Kong on May 27, Ethereum co-founder Vitalik Buterin commented on obstacles related to the Ethereum 2.0 rollout. Buterin said that there had been several internal team conflicts in the past five years and…
“# Traders look for Bitcoin price daily close at $41K to confirm bullish reversal ” Bitcoin started the week with a strong breakout to $40,900, but today bulls are trying to hold Bitcoin price above the $40,000 level. As the price broke from the $31,000 to $39,000 range on June 14, traders speculated that setting…
“# Bitcoin derivatives data shows pro traders ignored today’s $41K pump ” Sometimes all Bitcoin (BTC) needs to pump 10% is a positive remark from someone like Elon Musk. The Tesla CEO has been pointed to as the culprit for the recent downturn after the company’s May 12 announcement explaining that it would no longer…
“# Here’s how pros safely trade Bitcoin while it range trades near $40K ” Investors tend to define the market as either bullish or bearish, but sometimes the price can remain within a specific range for an extended period. This type of sideways movement is not necessarily stable because cryptocurrency markets have high volatility that…
“# Ethereum’s $1.5B options expiry on June 25 will be a make-or-break moment ” On June 25, Ether (ETH) will face its largest options expiry in 2021 as $1.5 billion worth of open interest will be settled. This figure is 30% larger than March’s 26 expiry, which took place as Ether price plunged 17% in…
“# Bullish Bitcoin newsflow gives bulls a boost ahead of Friday’s $565M options expiry ” On Friday, June 11, a total of $565 million in Bitcoin (BTC) options are set to expire. This is significant because the last couple of weeks have been a massive deception for bulls. After all, the price was struggling to…