Bitcoin (BTC) fell below $33,000 support on Thursday as a trusted trading range risked getting invalidated. Trader: $31,000 retest next for BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping into the $32,000 range during trading on Thursday. The move followed an overnight retracement from around $35,000, with Bitcoin failing to crack crucial resistance. With that, Bitcoin risks invalidating a bullish scenario, which involves it entering the next stage of a Wyckoff distribution with the potential to exit to the upside — around $39,000. “Losing $33K range and I’m looking at $31-31.4K,” popular trader Michaël van de Poppe …

On June 25, the amount of Bitcoin (BTC) margin shorts at Bitfinex increased by 22,000, equivalent to $726 million. At the time, Cointelegraph reported that there was a significant increase in Bitfinex's spot volume market share starting at 9 am UTC, matching the demand in the short margin. Data confirms that one (or more) whales actively shorted the market, betting on a price decrease. The average price of the trade was around $33,000, so every $500 difference would result in an $11 million profit or loss when closing the short position. Related: Why Bitcoin's next breakout may not be an …

One of the most common errors traders make when analyzing cryptocurrency markets is taking an exchanges' bid and ask data and traded volumes at face value. When doing this type of analysis, the trader has to exclude the trading venues mentioned on multiple 'fake trading volumes' reports, like the one Bitwise published in March 2019. There's really no way to know if the top exchanges inflate their volumes by granting special access and zero fees for market makers. Even the exchanges themselves have no way to know if a group of users are related or conducting multiple transactions among themselves …

Bitcoin price is still in a rut, trading near $33,000 and trapped in a downtrend that just seems to get worse with the passing of each day. As the price slumps, analysts have consulted with several technical and on-chain metrics to explain the price collapse, but none of these have picked up on the exact reason. One area of interest has been the sharp rise in short positions at Bitfinex in the past week. Traders are placing exaggerated importance on these Bitcoin (BTC) margin shorts as if they are predictors of the current market crash. Still, as Cointelegraph previously reported, …

Some of the biggest names in the crypto exchange business are reportedly eager to capture India’s cryptocurrency trading market, even as the government is yet to issue clear-cut regulatory policies. According to Reuters, sources say Kraken, Bitfinex and KuCoin are examining the potential for setting up shop in India. Crypto exchange giant Binance entered the Indian market back in 2019, acquiring one of the country’s most recognizable cryptocurrency trading platforms WazirX. The aforementioned trio could also pursue a similar entry strategy by acquiring or forming strategic partnerships with other Indian crypto exchanges. According to the Reuters source, these global exchanges …

Bitcoin (BTC) bulls should brace for a potential onslaught from bears as the number of margined short positions on Bitfinex jumps by a little over 378%. Known to most by the ticker BTCUSD Shorts, the dataset records the number of bearish positions in the Bitcoin market. In simple terms, traders borrow funds from Bitfinex — their broker — to trade bet on bearish outcomes for the instrument BTC/USD. Meanwhile, the value of opened short positions is measured in BTC. The number of short margined positions on Bitfinex reached an intraday high of 6,468.2202 BTC this Monday, up more than 378% …

The United States’ largest cryptocurrency exchange, Coinbase, is listing Tether (USDT) on its professional trading platform. According to a Thursday announcement, Coinbase Pro has enabled USDT deposits ahead of the trading launch scheduled for Monday. The company said that trading will begin if liquidity conditions are met, stressing that Coinbase only supports the ERC-20 version of USDT running on the Ethereum blockchain. “Once sufficient supply of USDT is established on the platform, trading on our BTC-USDT, ETH-USDT, USDT-EUR, USDT-GBP, USDT-USD and USDT-USDC, order books will launch in three phases, post-only, limit-only and full trading,” Coinbase wrote. Coinbase emphasized that USDT …

In October 2019, unknown hackers infiltrated a Canadian insurance company by installing the malware BitPaymer, which encrypted the firm’s data and IT systems. The hackers demanded a ransom of $1.2 million be paid in Bitcoin (BTC) in return for the decryption software needed for the firm to regain access to its systems. The firm’s United Kingdom-based insurer — known only as AA — arranged to pay the BTC ransom, and the firm’s systems were back up and running within a few days. Meanwhile, AA started the process of seeking legal avenues to recover the BTC obtained by the hackers. It …

A tranche of long-dormant Bitcoin seized in the 2016 hack of the Bitfinex cryptocurrency exchange are on the move today, an over $620 million sum that has some market participants spooked and may be contributing to a downward slide for Bitcoin. Blockchain analytics bot Whale Alerts was the first to raise the alarm, calling attention to a series of over five dozen transactions from wallets that have largely been inactive since the 2016 hack: ⚠ ⚠ ⚠ ⚠ ⚠ ⚠ ⚠ 1,241.37 #BTC (78,246,494 USD) of stolen funds transferred from Bitfinex Hack 2016 to unknown wallethttps://t.co/yLsJDXUBvE — Whale Alert (@whale_alert) …

Tether (USDT), the world’s most liquid stablecoin, surpassed $40 billion in market capitalization on Wednesday, highlighting the rapid growth of cryptocurrency investing over the past year. At its highest point Wednesday, Tether’s market cap reached $40.1 billion, according to CoinGecko, making it the fourth-largest digital asset behind Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB). In terms of stablecoin rankings, Tether is four times larger than the USD Coin (USDC), which has a market cap of around $10 billion. USDT dominance is currently around 67%, according to Messari. Tether’s market capitalization has grown by a factor of ten over the …

Crypto exchange Bitfinex has introduced a new feature for its algorithmic trading toolkit, allowing users to test their trading strategies without putting actual funds at risk. Bitfinex users can now deploy Honey Framework in their paper-trading sub-accounts. A paper trade is a simulated trade that allows users to practice buying and selling financial assets without risking real money. Paolo Ardoino, Bitfinex’s CTO, says the paper trading feature is part of his company’s effort to democratize finance. He explained: “The launch of paper trading on the Honey Framework forms part of our commitment to making powerful trading tools more accessible to …

Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor's note One day in the not-so-distant future, the curious experience of episodic television with its week-by-week gaps will be a weird thing that old people strain themselves not to talk about around the youths, until they eventually get, like, really old and stop caring and start turning all of the logistical inconveniences of their early memories into little moral parables. And by “they,” I mean me. And I’m looking forward to it. It’s possible that entertainment’s on-demand, all-the-time availability is …