Bitcoin trades north of the $32,000 levels as the bulls regain some conviction in the daily chart. The general sentiment in the market seems more bullish, but many still warn caution until BTC’s price moves higher to a safer zone. BTC scored some gains after testing the lows in the daily chart. Source: BTCUSD Tradingview Bitcoin’s recent price action has left many in the dark, wondering about its next direction. Uncertainty reigns supreme. At this point, experts have been comparing different Bitcoin bull and bear periods to grasp an idea about its future. In lower timeframes, most seem to lean with the bears. Thus, they bet on more downside for the short term. Trader Josh Rager warn bears about BTC’s price capacity to drive … [Read More...]
Market Insights Podcast (Episode 215)
OANDA Senior Market Analyst Craig Erlam reviews the day’s business and market news with Jonny Hart. [Read More...]
Blockstream Announces Greenlight Lightning Node Service
Blockstream announces Greenlight, where new users can be easily onboarded to Lightning while holding their own keys.Bitcoin giant Blockstream announced their latest product today which uses their cloud infrastructure to allow users to run a Lightning node while maintaining control over their own keys, per a press release sent to Bitcoin Magazine. For this product, the private keys never leave the user’s personal device, assuring them that they always have full custody of their funds. Greenlight users will be able to access the device with ease through a simple programmable interface.Greenlight has been built on top of c-lightning, which is an implementation of the Lightning Network that optimizes for performance and extendibility. C-lightning enables Greenlight to run more efficiently with low operating costs. … [Read More...]
Are Micro Bitcoin Futures for You?
The past two years have been big for cryptocurrencies, specifically Bitcoin (BTC). Amid the epic COVID-19 era run-up in crypto values, Bitcoin futures listed on the Chicago Mercantile Exchange (CME) experienced an uptick in public interest. To broaden its Bitcoin offerings, CME Group launched Micro BTC futures in May 2021. CME Micro Bitcoin Futures: Form and Function If you’re a retail trader, then you know how important it is to get the most out of your money. That’s where reduced-size futures come in?they help traders maximize capital efficiency. When it comes to trading BTC, CME Group’s Micro Bitcoin futures contract gives participants the ability to fully customize their risk profile and exposure to the markets. Since the inception of BTC futures, the single greatest challenge that … [Read More...]
Turn around Tuesday, housing peak, bitcoin moment
Blue Origin’s successful first astronaut flight to space gave Wall Street a nice distraction before the open. Jeff Bezos, the richest human in the world and founder of both Amazon and space tourism company Blue Origin, earned his astronaut wings after flying to the edge of space. Amazon shares rose slightly following the successful flight. Following yesterday’s raucous stock market selloff, much of Wall Street held onto optimism that the cyclical rotation is not dead, just deferred and that the theme of recurring fresh record highs will eventually continue once this latest wave of COVID concerns ease. While many earnings conference calls continue to suggest management has no hesitancy offsetting rising input costs by pushing through price increases, the Biden administration pointed out they are seeing … [Read More...]
As Bitcoin Drops Below $30k, Stablecoins Surpass $100 Billion In Total Supply
Bitcoin has dropped below the $30k mark, while stablecoins go strong as they surpass over $100 billion in total supply. Total Stablecoin Supply Is Now More Than $100 Billion According to a report by Arcane Research, the total stablecoin supply has now surpassed the $100 billion mark, while Tether’s dominance is declining. Here is a chart that shows the trend in the total supply and dominance of some popular coins: The stablecoins total supply as reached a new height There are a few interesting features in the graph. The total supply of these coins used to be only $11 billion in July of 2020, and now it seems to have risen $96 billion in the past 1 year, reaching about $107 billion today. Tether (USDT) dominated the … [Read More...]
Market Wrap: Bitcoin Hits $9.6K as Bullish Crypto Sentiment Returns
Bitcoin is back in bullish territory but can the buying last? [Read More...]
Commodities & Cryptos: Oil’s bad week, Gold hits a wall at $1835, Bitcoin rises on BAC news
Oil Crude prices are slightly higher after a brutal week saw COVID-19 concerns across Asia and Europe dampen the short-term crude demand outlook, while OPEC+ seems poised to deliver more output. A big driver for oil prices will be Iranian output and that question won’t get answered until well after Iranian hardliner Raisi will be inaugurated president in early August. Last month, everything on the supply and demand side was bullish for crude prices. This month, reopening momentum all around the world took a major step backwards. What is most concerning to the outlook is that even highly vaccinated countries are struggling with the Delta variant. The UK is going ahead with Freedom Day despite a rise in cases, while the US has seen a … [Read More...]
Is the Bitcoin (BTC) Futures Contract the New Gold?
Unless you’ve been living under a rock, you’re aware of the meteoric 2020-2021 rise of Bitcoin (BTC). In a little more than 12 months, BTC prices rallied from COVID-19 panic lows near $5,000 to early 2021 all-time highs just below $65,000. The spike in value was one of the biggest financial stories in recent history. As a result, many professional traders and investors began dubbing BTC “the new gold.” For active traders, Bitcoin futures are a powerful way of engaging the cryptocurrency market. Let’s take a close look at BTC and how it may be a budding safe-haven asset. Is Bitcoin the Next Gold? For thousands of years, gold bullion has been a staple of the world’s economic system. It has played many roles, functioning as … [Read More...]
Rolling For a Strike
Globalization is About to Sink, and the Tidal Wave Could Drown Us All 2018 was the year in which Saudi Arabia finally let women drive. It was also the year we finally realized that we’ve gone too far. Facebook sold our souls to Cambridge Analytica, an alleged rapist was sworn into the US Supreme Court, China cloned two cute primates, a British heir married a non-British, non-squeaky-white commoner, a Saudi king literally got away with murder, and Bitcoin finally collapsed (but still seems rather overpriced for a non-existing entity). Even Kim Jung On realized that he’d probably stretched the chord just a wee bit too tight, and that the guy on the other end was crazy enough to let go. But the biggest turmoil … [Read More...]
Market Wrap: Bitcoin Cracks $12.4K; DeFi Crosses $6B Locked
Bitcoin experienced a big jump Monday as investors continue to drop crypto into DeFi. [Read More...]
A Bitcoin mining operation is heating a New York lake like a hot tub
Global cryptocurrency miners would use more energy in a year than all of Chile. [Read More...]
Musk Learns the Hard Way: Crypto Doesn’t Need a Savior
Crypto doesn’t want kings. Elon Musk is finding that out the hard way. [Read More...]
Commodities and Cryptos: Oil slumps on cartel chaos, Gold shines, Visa Crypto demand impresses
Oil Cartel chaos is finally sending oil prices lower. The UAE has clearly shown their cards that they want to raise production and market share amid strong demand. The UAE will likely find some middle ground with Saudi Arabia, the experiment that is OPEC+ could be ending later this year. The energy market has a handful of strong years left as the world makes the shift to renewable energy, so most OPEC+ members feel the urgency to capitalize this moment of robust demand and high prices. Gold The bond market rally has been gold’s best friend. Bullion buying has been steady as gold futures rally for a fifth consecutive day and form a golden cross. Gold is holding onto the $1,800 level after the Fed’s minutes signaled … [Read More...]
Bitcoin Exchange Netflows Are Negative, Could A Bull Run Be Coming?
Bitcoin shows negative exchange netflows on CryptoQuant charts recently, an indicator that a bull run might be coming soon. Negative Exchange Netflows Bitcoin exchange netflow is an indicator that highlights whether more BTC is moving into exchanges than out. A more technical definition of the term is that it’s the difference of the exchange inflows and outflows. Exchange Netflow = Inflow – Outflow The exchange inflow is just the amount of BTC transferred to exchanges, while outflow is the opposite. Here is a chart that shows the current trend in Bitcoin exchange netflow with the BTC price: BTC netflow shows negative behavior recently | Source: CryptoQuant As is clear from the above chart, the recent trend of the Bitcoin exchange netflow has been negative. This means … [Read More...]