Markets

CME Data Shows Institutional Investors Undeterred by Bitcoin Price Drop

CME Bitcoin (BTC) futures and options markets expired on May 29, and despite a $100 hiccup, the price of the largest digital asset on CoinMarketCap held up nicely around the $9,400 level. As the market entered this last trading session, open interest for CME Bitcoin futures expiring in May was rather small at $30 million. …

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Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish

Despite Tuesday’s sudden price decline, miner flows suggest the bitcoin market remains strong. The biggest cryptocurrency by market value fell 8% from $10,137 to $9,298 in less than 5 minutes during Tuesday’s U.S. trading hours, dashing hopes for a continued upward move.  The price drop, however, has not deterred miners from running down their inventory.  …

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Coincheck Customers Fall Victim to Data Breach After Domain Account Error

Coincheck has fallen victim to a data breach after attackers accessed one of its domain name accounts and used it to impersonate the cryptocurrency exchange. The Japanese firm – which fell victim to possibly the largest crypto hack in history in 2018 – said Tuesday that an unknown third party gained access to an account …

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Bitcoin Rises Above $10K for First Time in 25 Days as Protests Roil US Cities

Bitcoin has risen above $10,000 for the first time in almost a month as protests in U.S. cities continue to intensify. At around 23:05 UTC (7:05 p.m. Eastern Time), bitcoin (BTC) rose from $9,895 to around $10,429 over the course of 30 minutes as a new wave of volatility greeted the end of the daily …

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‘Sell in May’ Wall Street Adage Doesn’t Apply to Bitcoin, Data Suggests

The old Wall Street maxim “sell in May and go away” is detrimental to bitcoin investors, market data from Messari suggests. The largest cryptocurrency generated positive returns during eight of the past 10 Mays, outperforming its monthly average for that year during six of them.  “Sell in May” refers to an old investment strategy that …

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Market Wrap: As Bitcoin Steadies, Oil’s Turmoil Continues

Both bitcoin and oil were relatively calm Monday, but that when it comes to volatility over the past couple of months, it’s crude, the backbone of global industrialization, that’s seeing wilder swings as of late.  Bitcoin (BTC) was changing hands around $9,575 as of 20:00 UTC (4 p.m. EDT), gaining less than a percent over …

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Trading Bitcoin Vs. BTC Futures — Which Is Best for You?

There’s an increasing number of exchanges offering futures contracts trading. So far there’s Binance, FTX, Bitfinex, Bybit, and Kraken, to name just a few. Volumes are also picking up across the board and it appears that retail traders are growing more interested in experimenting with these complex instruments.  As recently reported by Cointelegraph, there are …

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Stablecoins Are the Bridge From Central Banks to Consumer Payments

Alexander Lipton is the CTO of Sila, a visiting professor and Dean’s Fellow at the Jerusalem Business School of the Hebrew University of Jerusalem, and a Connection Science Fellow at the Massachusetts Institute of Technology. As many still wait to receive the check from the Paycheck Protection Program and Health Care Enhancement Act, which is …

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Market Wrap: Bitcoin Slides, Stocks Tread Water on Trump China Comments

Bitcoin declined for the first time in three days as traders in digital-asset markets and more traditional stocks considered the implications of U.S. President Donald Trump’s latest broadsides against China on the coronavirus and Hong Kong.  Bitcoin (BTC) was changing hands around $9,400 as of 20:00 UTC (4 p.m. ET), slipping less than a percent …

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Bitcoin News Roundup for May 29, 2020

With bitcoin and many traditional markets down on the day, CoinDesk’s Markets Daily is back! Bitcoin’s bulls are taking a breather as the traditional markets get the jitters over rising tensions between the U.S. and China. The Twitter account of BSV-based social media platform Twetch was suspended Thursday without warning, said Twetch co-founder Josh Petty. …

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