Bitcoin (BTC) delivered fresh volatility on Jan. 6 as rangebound behavior saw its first shake-up in weeks. Open interest remains high Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping overnight to hit $42,000 for the first time since December. Although not the upside breakout that many had wanted, the move was nonetheless predicted, Bitcoin essentially "filling" the space left after it briefly wicked to $41,800 early last month. Those lows were the result of a liquidation cascade, and while long positions also felt pain this time around, scepticism remained as to whether the revisiting of $42,000 had been …

Dec. 13 will likely be remembered as a “bloody Monday” after Bitcoin (BTC) price lost the $47,000 support, and altcoin prices dropped by as much as 25% within a matter of moments. When the move occurred, analysts quickly reasoned that Bitcoin’s 8.5% correction was directly connected to the Federal Open Market Committee (FOMC) meeting which starts on Dec. 15. Investors are afraid that the Federal Reserve will eventually start tapering, which simply put, is a reduction of the Federal Reserve’s bond repurchasing program. The logic is that a revision of the current monetary policy would negatively impact riskier assets. While …

The weekend is upon us and fear remains the dominant short-term sentiment in the cryptocurrency market. Earlier today Bitcoin (BTC) price dropped to $47,250 and investors are biting their nails after data from the U.S. consumer price index (CPI) shows inflation reaching a forty-year high at 6.8%. Data from Cointelegraph Markets Pro and TradingView shows that a midday push by bulls to reclaim the $50,000 support level was handily defeated and sellers sent the price back below $48,000 which could possibly force another daily lower high for the top-ranked cryptocurrency. With the prospect of a major run up in price …

Denver-based investment firm Kelly Strategic Management has filed for an exchange-traded fund (ETF) offering exposure to Ethereum (ETH) futures contracts. The move comes just three months after VanEck and ProShares suddenly withdrew their ETH futures ETF applications on the same day in August. According to a Nov. 29 filing with the U.S. Securities and Exchange Commission (SEC), the Kelly Ethereum Ether Strategy ETF will invest in cash-settled Ether futures contracts traded on the Chicago Mercantile Exchange (CME). Bloomberg’s Senior ETF analyst Eric Balchunas noted on Twitter today that Kelly’s Ether ETF may have a slim 20% chance of getting approval, …

The $4,700 Bitcoin (BTC) price spike on Nov. 29 was likely a great relief for holders, but it seems premature to call the bottom according to derivative metrics. This should not come as a surprise because Bitcoin price is still 15% below the $69,000 all-time high set on Nov. 10. Just 15 days later, the cryptocurrency was testing the $53,500 support after an abrupt 22% correction. Today’s trend reversal was possibly encouraged by MicroStrategy’s announcement that it had acquired 7,002 Bitcoin on Monday at an average price of $59,187 per coin. The listed company raised money by selling 571,001 shares …

After dropping a filing for a Bitcoin (BTC) futures exchange-traded fund (ETF) in October, the United States’ $1.6 trillion asset manager, Invesco, has disclosed the reasons behind the decision. Anna Paglia, Invesco’s global head of ETFs and indexed strategies, said that the biggest reason for dropping the filing was that the U.S. Securities and Exchange Commission (SEC) only approved Bitcoin ETFs with 100% exposure to Bitcoin futures. The Invesco Bitcoin Strategy ETF was designed to ideally be a mix of futures swaps, physical Bitcoin and private funds in the Bitcoin industry, Paglia said in a Sunday interview with The Financial …

The first rule of Bitcoin (BTC) trading should be “expect the unexpected.” In just the past year alone, there have been five instances of 20% or higher daily gains, as well as five intraday 18% drawdowns. Truth to be told, the volatility of the past 3-months has been relatively modest compared to recent peaks. Whether it be multi-million dollar institutional fund managers or retail investors, traders new to Bitcoin are often mesmerized by a 19% correction after a local top. Even more shocking to many is the fact that the current $13,360 correction from the Nov. 10 $69,000 all-time high …

Selecting a timeframe for technical analysis is always a tricky topic, but usually, the longer the trend, the higher the odds it shall prevail. For example, those analyzing the 3-day Bitcoin (BTC) chart will unarguably identify an ascending channel pattern that initiated in late June. Bears will also always find ways to justify their views despite the fact that Bitcoin has hit new all-time highs following the United States consumer price surge to 6.2%, which is the biggest inflation surge in 30 years. However, data from on-chain analytics firm Glassnode shows that long-term investors have stopped net accumulating and are …

VanEck, one of the first United States-based asset managers to file for a Bitcoin (BTC) exchange-traded fund (ETF), is finally launching its Bitcoin futures ETF. According to an official notice by the Chicago Board Options Exchange (CBOE), VanEck’s Bitcoin Strategy ETF will start trading on CBOE under the ticker symbol XBTF on Nov. 16. VanEck’s new ETF is joining the growing number of BTC futures-based ETFs launched in the United States, including ProShares’ Bitcoin Strategy ETF, which became the first Bitcoin futures ETF to start trading on the New York Stock Exchange on Oct. 19. Valkyrie’s Bitcoin Strategy ETF started …

Bitcoin (BTC) shook out leveraged traders in classic style this week, but new data suggests that the market is broadly healthier than earlier in the year. Highlighting findings from its latest weekly newsletter, data analysis firm Arcane Research showed how aligned futures markets have become in Q4 2021. "Healthier" market keeps bullish bias sustainable With a sudden BTC price correction causing maximum pain for leveraged long traders on Wednesday, sentiment has started to waver over market strength. This is unwarranted, figures suggest, as structurally, derivatives markets are much more solid than they were during the initial run-up to $64,900 in …

Bitwise Asset Management has withdrawn its application for a Bitcoin (BTC) futures-based exchange-traded fund (ETF) amid a number of such products launching in the United States. While dropping its futures-linked ETF, the firm is still bullish on a spot Bitcoin ETF, which is designed to track Bitcoin directly, Bitwise chief investment officer Matt Hougan announced on Nov. 10. Hougan said that Bitwise’s spot filing remains intact and the firm will continue its efforts to launch such a product in the United States: “Ultimately, what many investors want is a spot Bitcoin ETF. We think that's possible. So Bitwise will continue …

Since its launch on Oct. 19 Proshares’ Bitcoin futures exchange-traded fund (ETF) has been a popular choice with traders, rising to the top 2% of all ETFs in terms of total trading volume. Bloomberg’s Senior ETF analyst Eric Balchunas noted on Nov. 11 that the ProShares Bitcoin Strategy ETF (BITO) had $400 million worth of shares traded yesterday, with its average volume consistently putting it in the top 2% of all ETFs. $BITO and $BTF both had their biggest volume days in about two weeks. $BITO with a $400m traded, which is not only a ton but = 25% turnover …