Bakkt Reveals Bitcoin Futures Details – Here’s How it is One-Up on CME

The much anticipated Bakkt ‘Bitcoin [BTC] futures contracts’ is scheduled for launch on 23rd September 2019. While these are not the first regulated Bitcoin [BTC] futures contract with BitMEX and CME currently leading the space, Bakkt’s is one-up on all existing platforms.
The Bakkt contracts will be margined and as mentioned before – can be settled using Bitcoins itself. Hence, it can also be used as an alternative to unregulated spot markets as it has custody arrangements as well. Moreover, Bakkt will offer:
• Bakkt Bitcoin (USD) Daily Futures
• Bakkt Bitcoin (USD) Monthly Futures
The CME provides only monthly Bitcoin Futures contracts. The daily contracts would likely increase the volatility in the everyday price of Bitcoin. Nevertheless, the regulated platform will improve the fundamentals around Bitcoin [BTC] massively.
Rhythm, a crypto-trader talked about the advantage of Bakkt over CME and its effect on Bitcoin markets, he tweeted,
Unlike other futures exchanges, this is settled in bitcoin. Actual bitcoin is paid out, not just the fiat equivalent to the price of bitcoin.
The result is better price discovery and liquidity for bitcoin.
Kelly Loeffler, the CEO of Bakkt, told the media, that the core service Bakkt will offer is “secure, regulated custody,” alongside its institutional-scale trading.
The monthly futures contract on Bakkt is based on “forward pricing curve” for investors, giving them an option to see prices up to 12 months. She specifically talked about the halving schedule due next year; which will be enabled for speculation through the monthly contracts.
Also Read: 5 Reasons Why Bakkt’s Launch is BIG News for the Crypto Community
Furthermore, as the daily contracts are margined, it will provide a lot of space for institutional money to get involved in the day to day activities around it.
The Bakkt launch data announcement has had an extremely positive effect on the Bitcoin’s price. The price of Bitcoin at 3: 30 hours UTC on 20th August 2019 is $10,800. Bitcoin has gained about 6% since the announcement.
Do you think that daily futures contracts will increase the volatility or decrease it? Please share your views with us. 
The post Bakkt Reveals Bitcoin Futures Details – Here’s How it is One-Up on CME appeared first on Coingape.
Source: CoinGape

Coinbase Participates in $4.3 Million Funding Round of Crypto Derivatives Platform Blade

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Coinbase Participates in $4.3 Million Funding Round of Crypto Derivatives Platform Blade
Crypto derivatives platform Blade will allow users to trade its perpetual swap contracts in Bitcoin and altcoins with up to 150x leverage. Coinbase, as well as other giants, took part in this funding round.
Coinbase Participates in $4.3 Million Funding Round of Crypto Derivatives Platform Blade

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Source: CoinSpeaker

Caught in a Hayes: BitMEX volume drops post-CFTC investigation; who will pick up the Futures gauntlet?

Bitcoin Futures are caught in a haze, and not one that will please Arthur Hayes. Ask yourself, if you were BitMEX in a cryptocurrency price market where the king coin is bouncing between four and five figure valuations, why would you be in the thick of the news cycle? An obvious answer would be due […]
The post Caught in a Hayes: BitMEX volume drops post-CFTC investigation; who will pick up the Futures gauntlet? appeared first on AMBCrypto.
Source: AMB Crypto

With Facebook and Netflix Involved, Are We Heading Into a New Era of Crypto Space?

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With Facebook and Netflix Involved, Are We Heading Into a New Era of Crypto Space?
With institutions now firmly in on the game, crypto is entering a new era. This is great news for retail investors, as many of funds, derivatives, and other financial instruments are also open to individuals now.
With Facebook and Netflix Involved, Are We Heading Into a New Era of Crypto Space?

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Source: CoinSpeaker

Ethereum Futures Inbound as Demand For Bitcoin Dervatives Explodes

For a while now, investors have been waiting on futures for Ethereum (ETH), the second largest cryptocurrency by market capitalization. These expectations have been stifled though, with regulatory uncertainty and interest concerns about the crypto asset.
But, according to a recent report from The Block, the CME Group, one of the world’s largest financial exchanges, is prepping to launch a product for Ethereum. For those unaware, the CME is a Chicago-based institution that famously launched Bitcoin futures near the peak of 2017’s boom.
Related Reading: Ethereum Transactions Surge as Analysts Predict an Imminent “52-Day Bull Run”
The Block’s Frank “Fintech Frank” Chaparro suggests that the CME altering its reference rate and index for Ethereum could mean that futures are coming. An industry source told the outlet that this change is being done to “prep for an Ether” vehicle.
You see, according to the individual in question, cash-settled futures like the CME’s cryptocurrency contracts can be manipulated, requiring a robust index to mitigate such risk. This recent alteration may be taking place to convince regulators to approve of Ethereum-related products.
Ethereum Futures Gain Support
This tidbit of news comes as Ethereum futures have garnered support from key individuals in the cryptocurrency community.
One such individual is Thomas Chippas, the chief executive of upstart crypto exchange ErisX. In an extensive. 10-page letter given to the Commodity Futures Trading Commission (CFTC), the American regulator that presides over digital asset futures, Chippas accentuated the need for an Ethereum vehicle.
Related Reading: Bitcoin Consumes As Much Power As Switzerland, But Impact Remains Negligible
He claimed that Ethereum, unlike some cryptocurrency projects, has a real and vibrant community, actual use cases, proper institutional involvement (JP Morgan, government organization, Ernst & Young, etc.), among other tenets of a healthy network. He went on to write that the CFTC supporting ETH would align with the agency’s commitment to “foster open, transparent, competitive, and financially sound derivative trading markets.”
There may be some bias in Chippas’ statement, as his company is looking to launch Ethereum futures in the near future.
Regardless, an unnamed CFTC official that spoke to CoinDesk earlier this year claimed that those at the governmental organization are amicable towards Ethereum. They quipped shortly after claiming that the CFTC is comfortable with the cryptocurrency:
“A derivatives exchange comes to us and says ‘we want to launch this particular product.’ … If they came to us with a particular derivative that met our requirements, I think that there’s a good chance that it would be [allowed to be] self-certified by us.”
Bitcoin Vehicles Also Well on Their Way
The seeming inevitability of regulated, U.S.-centric Ethereum futures comes hot on the heels of news that a number of cryptocurrency exchange startups have bagged licenses to list physically-delivered Bitcoin vehicles.
As reported by NewsBTC previously, ErisX revealed Monday that it has secured a DCO license from the CFTC. With this regulatory stamp of approval, the Bitcoin exchange now has the authority to list “digital asset futures contracts” on a platform slated to “launch later this year”.
The firm has notably been backed by Bitmain, CME, CBOE, ConsenSys, Digital Currency Group, DRW, Nasdaq, Fidelity, and, most notably, TD Ameritrade. The retail brokerage is expected to soon open Bitcoin and digital asset trading for its millions of customers across the U.S., many of which will soon get their first taste of cryptocurrency via an ErisX product.
This was revealed shortly after a similar announcement from competitor LedgerX. As reported by this outlet previously, the New York-headquartered platform received clearance from the CFTC  last week. The approval also allows LedgerX to trade physically-settled BTC futures.
According to CoinDesk, chief operating officer Juthica Chou has claimed that her company has no exact timeline, but she noted that LedgerX is looking to be the incumbent in this market.
Featured Image from Shutterstock
The post Ethereum Futures Inbound as Demand For Bitcoin Dervatives Explodes appeared first on NewsBTC.
Source: New feedNewsBTC.com

This Week in Cryptos: Binance to Support Dogecoin while Cuba Looks towards Cryptos

Key highlights

Blockstream launch atomic swaps
Dogecoin jumps on Binance Listing
Cuba looks at cryptos to tackle the USA
eToro add ERC-20 tokens to the wallet
Electrum Wallet adds Lightning
Record June for CME BTC Futures

Blockstream launch atomic swaps
In an experimental move this week, Blockstream has created a tool for atomic swaps which is labeled as Liquid Swap Tool. This tool is believed to enable users to trade “trustlessly” easily between tokens launched on its Liquid sidechain. Blockstream plans to use “atomic swaps,” that will serve as the backbone for its newer decentralized exchanges which is currently in development. This specific atomic swap tool is specifically geared for tokens launched on Liquid, a sidechain that’s pegged to bitcoin.
Dogecoin jumps on Binance Listing
Coin listings on prominent exchanges are events that have a positive impact on a coin’s price. That what happened to Dogecoin this week when Binance announced listing of this altcoin. This lead an outstanding 37% price surge. Binance stated in a support notice and via GIF on Twitter that it would commence trading of DOGE at 12:00 GMT on Friday 5 July.At launch, Binance will offer five trading pairs for DOGE including Binance Coin (DOGE/BNB), Bitcoin (BTC), Tether (USDT), Paxos Standard (DOGE/PAX) and USD Coin (DOGE/USDC).
Cuba looks at cryptos to tackle the USA
This week, geo political crises did force a country to turn to cryptos. According to Reuters, Cuba is exploring to use cryptocurrency to avoid U.S.-imposed sanctions. In a public address, Cuba’s President Miguel Diaz-Candel said the plan will raise capital for about a fourth of the population and help pay for reforms. Cuba has felt the waves of financial dismay from Venezuela, which prior to its own economic calamity, was a major source of aid.
eToro add ERC-20 tokens to the wallet
eToro, the social trading and investment platform, has taken another step in its crypto offerings. Its crypto company eToroX announced that it had added 5 Ethereum tokens to the eToro wallet. It is just the first series out of the total 120 Ethereum standard tokens that the firm plans to add to their wallet. The first 5 tokens which have been launched are BAT (Basic Attention Token), MKR (Maker), OMG (OmiseGO), eToro USDX (US DollarX), and eToro EURX (EuroX). The last two tokens of the five listed are stablecoins of eToro.
Electrum Wallet adds Lightning
This week, another wallet added support to Bitcoin’s Lightning Network and its Electrum. According to the latest news, the popular wallet service Electrum has decided to soon to add support for bitcoin’s lightning network. Electrum’s founder Thomas Voegtlin who was speaking BIP001 blockchain event in Odessa, Ukraine, announced that work on the solution for sending lightning transactions with the Electrum wallet is now close to its official release.
Record June for CME BTC Futures
The rise in the crypto market also showed its impact on CME Bitcoin Futures. This week, the CME Group has seen a record massive surge in open interest for Bitcoin Futures contracts. While this surge is considered healthy, many on the street are connecting this towards rising institutional participation. With the growing institutional demand, the open interest for Bitcoin Futures has reached a record of 6069 contracts in June. Moreover, as on June 26, the notional value of Bitcoin Futures traded has hit a record $1.7 billion.
Note: This article is the rework of the thoughts put forward by Anthony Pompliano.
The post This Week in Cryptos: Binance to Support Dogecoin while Cuba Looks towards Cryptos appeared first on Coingape.
Source: CoinGape

CME Group Altering Its Reference Rate for Ether Meaning They Might Be Getting Ready for Futures

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CME Group Altering Its Reference Rate for Ether Meaning They Might Be Getting Ready for Futures
CME Group allegedly decided to make changes to its reference rate and index tied to Ethereum. Their sources say it could mean a future tied to the crypto is coming to its marketplace.
CME Group Altering Its Reference Rate for Ether Meaning They Might Be Getting Ready for Futures

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Source: CoinSpeaker

Chicago Mercantile Exchange to change Ether-reference rate; ETH-Futures on the horizon?

If there is one true harbinger of the onrushing bulls in the cryptocurrency market, it’s regulated futures exchanges, particularly the last of the two initiators, the Chicago Mercantile Exchange [CME]. Hence, their possible leaning towards Ether Futures contract should be looked at with glee. The CME group announced that the reference rate tied to the […]
The post Chicago Mercantile Exchange to change Ether-reference rate; ETH-Futures on the horizon? appeared first on AMBCrypto.
Source: AMB Crypto

CME Exchange Might be Prepping for Ethereum [ETH] Futures Market Launch: Report

CME (Chicago Mercantile Exchange), has announced changes in its pricing data source for its Ether [ETH] based indices on the Exchange. CME is one of the largest platforms for trading regulated Bitcoin futures in the US. Recently. It also surpassed the all-time high daily trading volume above $1.7 billion.
The Exchange has added New York-based itBit Exchange to its list of data providers along with Kraken and Bitstamp. While Kraken is another US-based Exchange, Bitstamp is based out of Luxemburg.
According to Frank Chapprano, the Director at The Block, it is possible that CME is considering the launch of Ether [ETH] Futures. As reported on CoinGape earlier, the regulators at the CFTC are comfortable with the possibility of an Ethereum futures due to its widespread reach. Hence, the chance might be finally coming to fruition.
Reportedly, a source from the industry confirmed with the journalist about the preparations as he noted,
“I think this is prep for an Ether future, they have to improve the robustness of their index.”
The CFTC (Commodity and Futures Trading Commission) in the US presides over matters related to the futures market. Their concern around crypto-based future markets has been massive volatility and possible market manipulation that is prevalent in the crypto-industry.
However, decentralization and widespread presence of Ethereum is one the rise. As a platform or an investment asset seems Ethereum has achieved the degree of decentralization and open market characteristics that the futures market warrants.
The price of Ether [ETH] at 5: 00 hours UTC on 6th July 2019 is $294.11. It is trading 2.31% higher on a daily scale.
Do you think Ethereum Futures contracts will be bullish or bearish for Ethereum? Please share your views with us. 
The post CME Exchange Might be Prepping for Ethereum [ETH] Futures Market Launch: Report appeared first on Coingape.
Source: CoinGape

Could Coinbase’s Brusque Market Disruption Be the Reason for Bitcoin’s Sudden Price Dip?

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Could Coinbase’s Brusque Market Disruption Be the Reason for Bitcoin’s Sudden Price Dip?
Coinbase, a cryptocurrency exchange recording over $1 million Bitcoin trading volume, experienced a few minutes site crash. Bitcoin price concurrently plunges afterward within a period of 24 hours.
Could Coinbase’s Brusque Market Disruption Be the Reason for Bitcoin’s Sudden Price Dip?

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Source: CoinSpeaker

eToro Analyst Predicts Bitcoin Price Could Go to $20K in Just Two Weeks and $100K in 2019

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eToro Analyst Predicts Bitcoin Price Could Go to $20K in Just Two Weeks and $100K in 2019
Analysts are pretty sure in their claims that Bitcoin prices could match their all-time high of $20,000 within the next two weeks, and, could actually hit $50,000 or $100,000 by the end of the year.
eToro Analyst Predicts Bitcoin Price Could Go to $20K in Just Two Weeks and $100K in 2019

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Source: CoinSpeaker

‘Bitcoin Big Short’: Is Increasing Shorts on BTC Futures at CME a Bullish Signal?

Bitcoin rose from trading around $4000 in March 2019 to nearing $12000; a 3x Rise in less than 90 days. While the speculation of a bubble is behind us, a growth of this proportion for an investment asset is highly unstable. Reportedly, Hedge funds and big traders are betting short on Bitcoin Futures market.
The reports from the futures market can be a reliable source to understand the market statistics given the large volume of trading on CME.
According to a report from the CFTC, last week the bears held 14% more short position than the bulls. The media reported,
“Other reportables” — a loose category of firms that don’t necessarily manage money for outside investors — held more than three times as many short positions in bitcoin futures as long ones”
It can be a response in the apprehension of a significant pullback. Since its upward momentum began in May at around $5000, Bitcoin has had only one weekly withdrawal. Most of the other times it has broken through resistance, consolidated for a while and then another leg up.
Moreover, even the short orders could have been placed as a hedge against Bitcoin custody. An entity going long on Bitcoin with a tremendous amount of buy orders could look to hedge part of their investment by shorting it on futures Exchanges.  This is highly bullish given Bitcoin [BTC] is an entirely new and uncorrelated asset.
Small volume traders are reportedly long on the asset. It is like a contradiction between the two sides. While the likelihood of either of it happening can be put to a long debate. Because while the rise could be categorized as unstainable, it could trigger another short squeeze. Harry Hey from Binary Financial tweeted,
Bitcoin about to break $12,000 $BTC – short squeeze is on the way 😎
BTCJUNE Futures/USD Daily Chart on CME (TradingView)
Bitcoin has been gaining at a rate of $500 daily in the week. Large definite gaps in the futures market are massive; this is usually brought due to weekend trading of the asset. Moreover, the bullish move has also been outstanding.
The CME Bitcoin Futures June contract price touched a high of $12145. The June contracts will expire by the end of this week on 28th June 2019. Interestingly, the Jule contracts are available at a price above $12,300 at press time.
Bitcoin Futures Contact Price Table at CME (Source)
Hence, while the market is split and not many analysis techniques apply to Bitcoin at this moment, caution must be exhibited. Even if Bitcoin is going for the moon, massive pullbacks will be part of the run. It should not worry ‘Hodlers,’ who have significantly larger price targets. However, day traders and altcoins traders might be currently in the dark.
Where do you think the price is headed next? Please share your views with us. 
The post ‘Bitcoin Big Short’: Is Increasing Shorts on BTC Futures at CME a Bullish Signal? appeared first on Coingape.
Source: CoinGape

Belated ICE-backed Bakkt Bitcoin Futures Beta-Testing Launches in Less than a Month

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Belated ICE-backed Bakkt Bitcoin Futures Beta-Testing Launches in Less than a Month
As ICE Futures Exchange opens its Bitcoin Futures interest, CME concurrently soars in what appears to be a four day all-time high in a row.
Belated ICE-backed Bakkt Bitcoin Futures Beta-Testing Launches in Less than a Month

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Source: CoinSpeaker

Will Bitcoin Take a Breather or Blast Through Resistance Again?

This weekend has been nothing short of monumental for Bitcoin. Over the past two days the king of crypto has surged almost 15 percent to its highest price for 15 months. The big question now is will it carry on brushing resistance aside or is a pullback imminent?
Over the past 24 hours Bitcoin reached the giddy heights of $11,250, its highest price since March 2018. Market dominance is close to 60 percent as the altcoins remain frozen over, many still down over 80 percent from their peaks. Daily volume topped out at $30 billion as BTC market capitalization touched $200 billion, but has the wave of FOMO crashed onto the shore?
Bitcoin Breather Beginning?
As in previous pumps, traders and analysts have been scouring the charts looking for resistance zones where Bitcoin may possibly halt its epic run. $10k was a huge psychological barrier that was blown away within a couple of hours when BTC surged to $10,900 on Saturday.
The next key resistance level is around $12k where BTC touched on its way down in early 2018. Trader ‘CryptoFibonacci’ has looked at the long term chart to ascertain if and where Bitcoin may take a breather.
“Price is getting to an area where one would suggest we take a breather. But, BTC has a mind of its own, so we shall see. If you have profits, I would suggest taking some off the table the closer we get to 11,500-11.800 area, IMO.”

$BTC Weekly Chart.
Price is getting to an area where one would suggest we take a breather. But, BTC has a mind of its own, so we shall see. If you have profits, I would suggest taking some off the table the closer we get to 11,500-11.800 area, IMO.#BTC pic.twitter.com/Yvesi7UD47
— CryptoFibonacci (@CryptoFib) June 23, 2019

Other long term technical indicators are all indicating bullish momentum for Bitcoin so a correction would not be a bad thing. Economist, Alex Krüger, notes that trends are all one way at the moment;
“”The trend is your friend”. Returns and sharpe ratios for $BTC longs taken above the various moving averages are significantly superior than for longs taken below the moving averages. This is particularly relevant for trending assets such as bitcoin.”
The CME futures chart is starting to show some ominous gaps which is an indication that the current bull run could be running out of steam. CryptoFib added;
“They are open now and we have yet another gap. Not surprised based on the weekend move.  But, look how far price is outside of the upper Bollinger Band. That is No go for new longs for me. Time to take a few off the table, IMO.”

$BTC Daily CME Futures Chart.
They are open now and we have yet another gap. Not surprised based on the weekend move. But, look how far price is outside of the upper Bollinger Band. That is No go for new longs for me. Time to take a few off the table, IMO.#BTC pic.twitter.com/UVhbYvowy1
— CryptoFibonacci (@CryptoFib) June 23, 2019

Analysts have been wrong in the past when they predicted 30 percent pullbacks at $6k, $8k and again at $10k. Now that Bitcoin has breached $11k the correction calls are getting stronger so it has to take a breather sooner or later.
Image from Shutterstock
The post Will Bitcoin Take a Breather or Blast Through Resistance Again? appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin Price Could Hit $62K This October, Says Analyst

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Bitcoin Price Could Hit $62K This October, Says Analyst
Here’s how the analysts are predicting higher targets for Bitcoin price based on the strengthening technical charts, growing fundamentals, and higher institutional participation.
Bitcoin Price Could Hit $62K This October, Says Analyst

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Source: CoinSpeaker