A Bloomberg report, analyzing data from 13 top exchanges, shows that within a very short span of time, Bitcoin (BTC) futures trading volume has grown to about 50% of spot trading volume. This is the sign of a maturing asset class. Successful operation of the futures market may provide regulators with the confidence they need as many are concerned that a few entities can easily manipulate the markets at will. The institutional players who have been staying away due to wild volatility in the crypto sector are also likely to jump in because the futures and options market provides them …

The sentiment in the crypto markets had turned bullish on the news that Chinese President Xi Jinping has called for businesses and government bodies to support the development and adoption of blockchain technology. However, just days after the comments, the Chinese state media warned that support for blockchain should not be interpreted as an endorsement for cryptocurrencies. During the recent Bitcoin (BTC) rally, institutional interest picked up, which also resulted in a spike in Bitcoin futures volumes on the Bakkt platform. Along with targeting the institutional players, Bakkt dove into the mobile payments sector. Earlier this week the company announced …

The seesaw price action over the past week has lightened up the crypto space once again. While the aggressive bulls view the sharp upside move as a bottoming signal, the bears consider the rise as a bear market rally that should be sold into. However, as traders, our goal should be to identify the trend and trade with it. Bitcoin (BTC) futures trading volume on Bakkt has surged over the past three days. This suggests that the recent market activity has generated interest among institutional traders who expect a sharp directional move. Cryptocurrency market daily performance. Source: Coin360 If the …

Bitcoin price (BTC) has been a popular topic this week. After the monstrous run from $7,400 to over $10,500 on Oct. 25, it certainly looks as if last week's article indicating the early stages of a bullish reversal came to fruition. Weekly crypto market performance. Source: Coin360.com As usual, there has been wild speculation on Crypto Twitter that the Bitcoin price pump was a direct result of Chinese President Xi Jinping calling for an acceleration in the development of blockchain technology as reported by Cointelegraph last week. Whilst this was good news to hear, it’s doubtful that it was the …

Though fundamentals play a large part in determining the price of an asset, short-term movements of the markets are driven by sentiment. This was clearly visible during the week. A few events soured sentiment early in the week, which dragged the total market capitalization of the crypto space down to $202 billion. When the markets are in a corrective phase, traders can become bearish even on events that do not have a material impact on the short-term. After the initial knee-jerk reaction, the markets digested the news and realized that it was not materially negative. This resulted in a pullback, …

Bitcoin’s (BTC) plunged today, dragging the whole crypto space along with it. The total crypto market capitalization has broken below the $209 billion mark from where it had bounced on two previous occasions in late September. It has psychological support at $200 billion and below this point the total market capitalization could drop to $170 billion. Cryptocurrency daily performance. Source: Coin360 At the moment, there is not a direct reason that explains today’s strong correction. Some analysts believe that Facebook CEO Mark Zuckerberg’s testimony before the United States Congress on Libra might have triggered the fall. They believe that the …

The global economy is on weak footing. This has led to rate cuts by several central banks across the world and many are planning to implement additional measures to support their respective economies. This has ballooned the balance sheets of the central banks and there appears to be no end in sight. Since mid-September, the Federal Reserve has resumed its bond buying initiative, leading its balance sheet to expand by $210 billion. The Fed’s balance sheet is now about $3.97 trillion. While the supply of fiat currencies has been steadily increasing for the past few years, Bitcoin’s (BTC) block rewards …

Bitcoin price (BTC) has continued to fend off support in the $7,800 region for what will be the fifth week running at the end of today. With the BTC price currently back up over $8,200, several indicators suggest that a potential reversal may be in the cards. Weekly Crypto Market Performance. Source: Coin360.com 1. Bitcoin price support holds again Bitcoin price seems to have found a bottom for the time being. Both on the daily and weekly charts the BTC/USD has repeatedly rejected support this past week. After the high of around $8,400 on Monday, Oct. 14, Bitcoin bounced off …

The traditional financial system is heading to a disaster with about $17 trillion in global bonds returning negative-yields. “The whole concept of negative yields, of people paying for the privilege of lending money, is insane behavior to me,” said William Eigen, a veteran fund manager at JPMorgan Asset Management, in an interview with Bloomberg. Gemini crypto exchange co-founder Cameron Winklevoss believes that the staggering amount of negative-yield bonds is a compelling reason why investors should gravitate towards Bitcoin (BTC). Stafford Masie, the general manager of WeWork South Africa, also believes that Bitcoin is the best technological gift to mankind and …

The crypto market has been struggling since topping out in June but this does not mean institutional interest in crypto has diminished. The Chicago Mercantile Exchange (CME) Group tweeted that customer interest in CME Bitcoin (BTC) futures remained strong in Q3 2019 compared to Q3 2018. The total increase in open interest during this period was about 61%, which shows that the involvement of institutional traders is on the rise. Similarly, digital asset manager Grayscale Investments reported that its products received a total investment of $254 million in Q3 2019. That was a sharp increase over Q2 2019 when the …

A draft report by the G7 group of nations outlined the risks associated with “global stablecoins.” The report said: “No stablecoin project should begin operation until the legal, regulatory and oversight challenges and risks are adequately addressed.” This report is likely to increase the troubles for Facebook’s Libra project. Former Commodity Futures Trading Commission chairman Christopher Giancarlo believes that Libra and the prospects of central bank digital currencies will increase regulator's intrusions into the crypto space. This can work as a double-edged sword. If regulators provide clarity, it is likely to attract large institutional players into the game, but if …

The wait for a Bitcoin (BTC) exchange-traded fund got a bit longer as the United States Securities and Exchange Commission (SEC) shot down the proposal by Bitwise Asset Management and NYSE Arca. The regulators felt that the application did not satisfy the requirement that it will “prevent fraudulent and manipulative acts and practices.” However, there was no noticeable reaction to this news, which shows that the market participants did not have high expectations of an approval. Meanwhile, as Bakkt’s volumes continue to unimpress, the Chicago Mercantile Exchange (CME) Group is upbeat on its forthcoming Bitcoin options product. Tim McCourt, CME …