German DAX futures +1.0%UK FTSE futures +0.6%Spanish IBEX futures +0.7%This follows the solid showing yesterday, with European indices posting near 1% gains across the board. The positive vibes at the open here should see most major indices in the region open at four-week highs.Elsewhere, US futures
The US Commodity Futures Trading Commission (CFTC) announced on Tuesday that a court in Illinois entered a consent order for a permanent injunction against Chicago-area trader and his company for F...
Bitcoin trends higher in the last few days as it approaches the mid area around its current levels. The benchmark crypto has seen some relief in the past days but seems unlikely to fully reclaim its previous bullish momentum. Related Reading | Data: Bitcoin Long-Term Holder Supply Has Stagnated Since October High At the time of writing, Bitcoin trades at $42,500 with a 4% profit in the last day and a 12% profit over the last two weeks. As NewsBTC has been reporting, Bitcoin seems to be reacting to the U.S. Federal Reserve (FED) shift in monetary policy and the armed conflict between Russia and Ukraine. The financial institution announced a rate hike of 25 basic points (bps) for the coming months. This increment meets market expectations. No major announcement is expected from the FED in the short term. As for the armed conflict, attempts to reach a diplomatic solution have failed, with no clear winner on the battlefield. The parties seem to be at a stalemate. This tense calm has moved to the market and the uncertainty could lead Bitcoin into further consolidation between its current levels, and the high area around $30,000. In support of this thesis, Arcane Research records no major movements in Open Interest (OI) for the BTC-based derivatives sector. This metric has remained stable at around 360,000 BTC and 380,000 BTC since the start of 2022. As seen below, the OI for BTC futures has been moving sideways along the price of Bitcoin, as it registers a decrease in volatility. In other words, the BTC market could be experiencing a period of low activity which suggests no important trends in either direction. The Last Time Bitcoin Open Interest Hinted At Consolidation The 30-day volatility for Bitcoin OI futures, as Arcane Research reported, saw a 1% low in March, and has trended a bit higher in the last two weeks. The metric currently stands at 1.5%. The research firm claims current trading activity has been lower than during a similar period of consolidation in 2021. Arcane Research added: Overall, the BTC denominated open interest remains relatively lofty at 370,000 BTC. We’ve rarely seen open interest being maintained at such levels for such a long duration without any major squeeze setbacks such as those experienced during the spring and fall bull markets and bitcoin’s short squeeze in July. Additional data provided by Santiment indicates Bitcoin’s supply on exchanges has been trending down as the price of BTC consolidates. In June 2021, this metric saw a 6-month low as the market recovered from bearish price action. As BTC’s price moved further up, the supply followed, but the cryptocurrency managed to score a new all-time high near $70,000. Related Reading | Ethereum Classic Gains 60% In One Week, Why The Merge Could Push Its Price Higher The chart below could be hinting at a similar trend as supply on exchanges decreases, and the price consolidates.
Investing app Acorns now enables users to invest in bitcoin. Users can invest up to 5% of their Acorns portfolio in the ProShares Bitcoin Strategy ETF. Acorns plans to add other cryptocurrencies in the future. Millennials have been crowding around crypto investing, and micro investment platform Acorns has taken notice. The California-based company launched an Read more...
One of the world’s biggest investment bank, Goldman Sachs, is seemingly expanding their bitcoin services as interest continues to grow. After dipping their toes into CME’s bitcoin futures last year,...
Dino Sabic of Chattanooga, Tenn. Photo by Kathleen Greeson for EdSurge.Who are you?If you saw this question on a government form, you’d likely respond ...
Banking giant Goldman Sachs has become the first major financial institution in the United States to trade crypto assets over the counter (OTC). First reported by CNBC, Goldman traded a Bitcoin-backed non-deliverable option issued by crypto merchant bank Galaxy Digital. The two firms told CNBC that Goldman will essentially be taking on more risk with […]
Goldman Sachs announced its first over-the-counter crypto options trade on Monday, becoming the first major U.S. bank to do so, marking a milestone for crypto adoption on Wall Street. See related article: Goldman Sachs: Bitcoin could reach $100K price by beating gold Fast facts The trade was in the form of a Bitcoin non-deliverable option […]
Less than a year after approving the 15th regulated adult-use market in the United States, New York is almost ready to begin sales. The recreational market could generate at least $1 billion in sales in its first year of operation, while the state earns about $350 million in annual tax revenue. The state's announcement to give equity applicants a headstart over large companies is a huge move. Hundreds of New York cannabis ex-convicts are hoping to get one of these licenses for a smooth transition into the legal cannabis market. The initiative has given residents of disadvantaged communities hope that their futures could be bright and high!