Bitcoin has finally bounced back, cleanly breaking the $50,000 barrier to trade at around $57,000 at the time of publishing. This signal comes as much-needed relief for bulls after the entire crypto market slumped for two weeks following the flash crash on Feb. 22, now known as “Bloody Monday.” The market slump seemed to persist despite the rising demand and confidence in the cryptocurrency markets both from retail and institutional investors. A blog post published by Robinhood, a trading platform often used by Gen Z and millennials, titled “Crypto Goes Mainstream” mentioned that the platform saw over 6 million new …

Cryptocurrency derivatives exchange Bybit has appointed a new general counsel to lead the firm in its global compliance matters, and to oversee its legal team. Daniel Lim, formerly head of legal and compliance for the Singapore-based investment bank, Daiwa Capital Markets, was announced in the new role on March 9. Lim joins Bybit shortly after the exchange was forced to close down operations in the United Kingdom, following the FCA’s blanket ban on retail crypto derivatives trading. Co-founder and CEO of Bybit, Ben Zhou, said Lim was appointed to bolster the firm’s “compliance posture,” in what he sees as a …

Bitcoin (BTC) price might have re-established $50,000 as a support, but the optimism of professional traders is nowhere near the levels seen before the 26% drop to $43,000 on Feb. 28. The current scenario is far from bearish, but derivatives indicators do not reflect the substantial purchases from institutional clients, including Microstrategy, Meitu, and most recently, Aker ASA, a Norweigian oil conglomerate. The longer Bitcoin stays above a certain threshold, the more confident investors get. For example, the last daily close below $45,000 was 28 days ago. Therefore it might take a couple of weeks until a more robust support …

Deutsche Borse’s electronic trading platform, Xetra, is preparing to launch its first Ether (ETH)-based exchange-traded products, or ETPs. According to data from Xetra, the platform is set to debut trading of two Ether ETPs — ETC Group’s Ether exchange-traded commodity, or ETC, product (ZETH) and 21Shares’ Ethereum ETP (AETH) — on Tuesday. A spokesperson for Deutsche Borse told Cointelegraph that the two products will be the first Ether ETPs to ever be listed on Xetra. Alongside AETH, Xetra will be also listing 21Shares’ Bitcoin Cash (BCH) ETP, the firm’s global head of ETP, Laurent Kssis, told Cointelegraph. “As of tomorrow …

Polkadot (DOT) has been raising eyebrows for the past couple of months as the interoperability-focused altcoins has gained 625% in the past three months. The promise that interoperability between blockchains will be a viable solution to the high Ethereum gas fees plaguing the crypto market has made Polkadot’s development of parachains attractive and the number of projects choosing to build on DOT continues to grow alongside it’s popularity as a staking platform. Polkadot parachains operate similarly to the Ethereum 2.0 sharding proposal, which creates independent blockchains built for a particular purpose. Many projects building on Polkadot, like Moonbeam, Equilibrium, and …

On Feb. 20, Ether (ETH) price rallied to a new high at $2,015, and this caused multiple indicators to display signs of excessive optimism. While the excitement could be easily justified by Ether's year-to-date 176% gain, these warning signs should not be ignored. One of the primary driving factors of the current bullish sentiment is the launch of CME ETH futures and Grayscale Investments' ETH trust reaching $6.3 billion assets under management. The decentralized finance phenomenon also continues, as there is currently more than $21 billion worth of Ether locked in DeFi. Currently, the Crypto Fear & Greed Index is …

Less than a month after becoming the second firm to secure approval from Canadian regulators to list a Bitcoin (BTC) exchange-traded fund, Evolve is looking to debut an Ether (ETH) ETF product in Canada. According to a Tuesday press release, the company has filed a preliminary prospectus with Canadian regulators for approval to begin trading an Ether ETF product. According to the communique, if the Ether ETF is approved, it will trade under the ticker “ETHR” and will track the Ether-Dollar Reference Rate (ETHUSD_RR) provided by CF Benchmarks. The CME ETH futures contract also utilizes the same benchmark price. The …

Bitcoin's (BTC) severe 26% drop from its $58,300 all-time high on Feb. 20 injected a bit of bearishness into the market, but from a technical perspective, this was purely psychological, as the digital asset held the $43,000 support with ease. This downside move caused indicators like the Crypto Fear & Greed Index to hit 38, its lowest level in five months. Even though a $15,400 downside move might seem unusual, 25% and even larger corrections happened on six separate occasions during the 2017 bull run. Moreover, when BTC first made an all-time high at $42,000 on Jan. 8, a 31.5% …

Historical data shows that it is nearly impossible to consistently predict Bitcoin’s price action and many traders that attempt this end up losing money. Now that Bitcoin trades near $50,000, the ultimate goal for most traders is to hold on to their current holdings and incrementally add to them in a way that is not terribly risky. Options strategies provide excellent opportunities for traders who have a fixed-range target for an asset. For example, using leveraged futures contracts might be a solution for a scenario where one expects a price increase of up to 28% over the next month. Of …

Bitcoin’s (BTC) strong bull run and the immense popularity of the decentralized finance space have attracted several new investors to cryptocurrencies. A report from Crypto.com shows a massive increase in crypto users as the figure rose from 66 million in May 2020 to 106 million by January this year. Contrary to the popular notion that new crypto users are mostly speculating on the price, data from Unchained Capital shows that investors who bought in the past three to five years are still holding and are not yet tempted to book profits. Unlike the 2017 bull market where many low-cap altcoins …

On Feb. 3, Cardano conducted a hard fork and successfully integrated the Mary upgrade to the testnet, transforming the blockchain into a multiasset network similar to Ethereum. This event seems to be one of the reasons for the impressive 475% year-to-date rally of ADA, and the altcoin is now causing unexpected ripples in the derivatives markets. Since the end of December 2020, ADA's $81-million aggregate futures open interest hiked to the current $580 million, becoming the third-largest derivatives market, behind Bitcoin (BTC) and Ether (ETH). Data indicates this was not purely a technical adjustment, as Cardano's on-chain and trading metrics …

Cryptocurrency derivatives exchange FTX has created a new specialized futures contract for traders to bet on the likelihood of the Olympic Games occurring in Tokyo in 2021. The coronavirus pandemic continues to cast a shadow over the safety of hosting the event this year, particularly after a renewed outbreak of the virus in Tokyo last month. For each such uncertainty, as FTX noted in its tweet promoting the new contract, there can be a lucrative market. The new futures contract on FTX Token (FTT) has, according to the exchange, a different risk profile than Bitcoin (BTC). That is, "It has …